Accounts filed on 31-05-2016
Accounts filed on 31-05-2016
trueGriffiths Waste Solutions (GWS) Limited90521042016-05-31299732570929974257101129974257102186212749510153976910285178228-64591448220395029525119749130973317036825147027123582631093106374610931063746Basis 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.
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.
Deferred taxation
Deferred tax is recognised in respect of all material 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, with the following exceptions:
rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.
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.
Plant & Machineryon a reducing balance basis0.2500Fixtures & Fittingson a reducing balance basis0.2500166995849958200057685212493643616699584995820005768521249364363768822000ordinary1111Creditors: Amounts falling due within one yearThe following liabilities disclosed under creditors falling due within one year are secured by the company: 2016 £37,075 (2015 - £26,400)2017-02-24Mr M N Griffithstruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureGriffiths Waste Solutions (GWS) Limited2015-06-012016-05-31Griffiths Waste Solutions (GWS) Limited2014-05-222015-05-31Griffiths Waste Solutions (GWS) Limited2014-05-21Griffiths Waste Solutions (GWS) Limited2015-05-31Griffiths Waste Solutions (GWS) Limited2015-05-31Griffiths Waste Solutions (GWS) Limited2016-05-31 2017-02-24
