Accounts filed on 31-01-2014
Accounts filed on 31-01-2014
trueRichard Eade and Sons Limited052997742014-01-31681767669867682767670867500500500500682767670867213034816848976743484684644537491243131051455927775588941108281171451879581649612939912767882164332205991327220599203161200000Basis 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 April 2008).
Cash flow statement
In the opinion of the directors the company qualifies as a small company and accordingly a cash flow
statement is not required.
Revenue Recognition
Turnover comprises the value of retail sales of goods provided in the normal course of business, excluding Value Added Tax, similar taxes and trade discounts.
Revenue is recognised when the goods are despatched, which is the same day on which goods are delivered and hence the point at which the risks and rewards of ownership pass to the buyer.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Cost represents the purchase price of goods, less trade discounts on a FIFO basis.
Net realisable represents the future selling price.
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, with the following exceptions:
Deferred tax assets are recognised only to the extent that the directors consider 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.
Plant & Machinery0.0000Fixtures & Fittings0.0000Motor Vehicles0.0000105488104813675922168421480022031612000003161308649304813383692216842148002Ordinary1000110001000Ordinary15005005002014-08-12Mr D Eadetruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureRichard Eade and Sons Limited2013-02-012014-01-31Richard Eade and Sons Limited2012-02-012013-01-31Richard Eade and Sons Limited2012-01-31Richard Eade and Sons Limited2013-01-31Richard Eade and Sons Limited2013-01-31Richard Eade and Sons Limited2014-01-31 2014-10-30
