Accounts filed on 30-09-2016
Accounts filed on 30-09-2016
trueE.N.V. Contractors Limited044241512016-09-30-35064-3093-35062-309122-35062-30911430965-33632-2126-40954-7167630995664022145494739494272561100013000165192177322504173225041Basis 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.
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.
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:
gains on disposal of fixed assets that have been 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 overinto replacement assets and charged
to tax only where the replacement assets are sold;
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.
going concern
The company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. This support is required as the company has net current liabilities of £40,954 and net liabilities of £35,062. No further disclosures relating to the company's ability to continue as a going concern need to be made in the financial statements.
Fixtures & Fittingsreducing basis0.2500Motor Vehiclesreducing basis0.2500Equipmentreducing basis0.25001497810978400076565937171914978109784000765659371719Ordinary1000110001000Ordinary12222017-06-06D A Hossacktruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureE.N.V. Contractors Limited2015-10-012016-09-30E.N.V. Contractors Limited2014-10-012015-09-30E.N.V. Contractors Limited2014-09-30E.N.V. Contractors Limited2015-09-30E.N.V. Contractors Limited2015-09-30E.N.V. Contractors Limited2016-09-30 2017-06-09