Accounts filed on 31-03-2016
Accounts filed on 31-03-2016
trueESP Scotland LimitedSC3557402016-03-31318967269940319967270940100010003199672709408333304033002709403047221494489022598726741206981102212264094467801016419317319040184417092298578121492157001962482878101868Basis 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, exclusive of Value Added Tax.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over
the useful economic life of that asset as follows:
Intellectual Property - 20% reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Fixed Assets
All fixed assets are initially recorded at cost.
Plant & MachineryMethod for Plant & equipment0.0000Fixtures & FittingsMethod for Fixtures & fittings0.0000Motor VehiclesMethod for Motor vehicles0.0000EquipmentMethod for Equipment0.0000Leased Out Assets - Cost B/FwdMethod for Fixed asset 70.0000Software - Cost brought forwardMethod for Fixed asset 80.00004000240002243022037839241464011610428943-23584635235917422393-180441864032010448943-235848782579552-1804426317Ordinary1000011000010000Ordinary1100010001000On incorporation, 1000 ordinary £1 shares were issued at par.
During the year the Company repaid £14,188 of the loan made to the company by Ms S Duthoit. As at 31 March 2016 the balance owed to Ms S Duthoit was £3,661 (31 March 2015: £17,849). This balance is interest free and repayable on demand. The maximum outstanding during the year was £17,849.2016-12-20Ms S Duthoittruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureESP Scotland Limited2015-04-012016-03-31ESP Scotland Limited2014-04-012015-03-31ESP Scotland Limited2014-03-31ESP Scotland Limited2015-03-31ESP Scotland Limited2015-03-31ESP Scotland Limited2016-03-31 2016-12-22
