Accounts filed on 30-04-2016

trueMerv Lang Ltd050993482016-04-3010073841110739411001001107394111073941-6296-4916287305099022434460747795011984127420671397897403885774038857Basis 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. 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. 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: Goodwill-over ten years on a straight line basis Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Work in progress Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress. Hire purchase agreements Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis. 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. 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.Plant & MachineryReducing Balance0.2000Motor VehiclesReducing Balance0.2500EquipmentReducing Balance0.200019200192001920019200591385861852051735497611974783387781852070935689611974Ordinary1000011000010000Ordinary11001001002017-01-21Mr M D Langtruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureMerv Lang Ltd2015-05-012016-04-30Merv Lang Ltd2014-05-012015-04-30Merv Lang Ltd2014-04-30Merv Lang Ltd2015-04-30Merv Lang Ltd2015-04-30Merv Lang Ltd2016-04-30 2017-01-24