Accounts filed on 31-03-2016

trueGaglione Limited047159492016-03-31607147696073477122607347716073477135241370571043649234573444904490474412442549340125493401Basis of accounting The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). Turnover The turnover shown in the profit and loss account represents amounts invoiced during the year. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion. Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Financial Instruments Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.Equipmentstraight line0.200080338033548446328528033803354844632852Ordinary1000110001000Ordinary12222016-11-24Mr D R Jonestruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureGaglione Limited2015-04-012016-03-31Gaglione Limited2014-04-012015-03-31Gaglione Limited2014-03-31Gaglione Limited2015-03-31Gaglione Limited2015-03-31Gaglione Limited2016-03-31 2016-11-25