Accounts filed on 30-06-2016

trueAdelan Limited031669482016-06-30-7143-4512215765411967513537135371512601512601576541196751576541196751554871165291927161820703482032985993445242162933679823062167314621673146Basis 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. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and receivable revenue can be reliably measured. The following criteria must also be met before revenue is recognised: Sale of goods: Revenue is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on despatch of goods. Public body funded work: Project work is undertaken for public bodies where such work is of benefit to the company's ongoing research and development activities. Where amounts receivable for these projects are less than the anticipated costs to complete the project, no provision is made for future losses. Research and development Research and development expenditure is written off in the year in which it is incurred to match the specific funds received for the project. 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. Deferred taxation Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. Fixed Assets All fixed assets are initially recorded at cost. Financial Instruments Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Grants received Grants received in respect of trading expenditure are credited to the profit and loss account when receivable to match the associated expenditure. Grants received in respect of capital expenditure are treated as deferred income and credited to the profit and loss account over the estimated useful life of the asset to which they relate. Plant & Machineryreducing balance0.3300Fixtures & Fittingsreducing balance0.3300Computer Equipmentreducing balance0.3300 Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit. 7965786010557984714108479657860105579847141084Ordinary1307411307413074Ordinary A4631463463Ordinary1130741307413074Ordinary A1463463463A Ordinary shares have voting rights and rank pari passu with the Ordinary shares. The shares have a right to dividends and to participate in a distribution on a winding up, ranking pari passu with the Ordinary shares. 2016-12-21Dr K Kendalltruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureAdelan Limited2015-07-012016-06-30Adelan Limited2014-07-012015-06-30Adelan Limited2014-06-30Adelan Limited2015-06-30Adelan Limited2015-06-30Adelan Limited2016-06-30 2017-01-20