Accounts filed on 30-09-2016
Accounts filed on 30-09-2016
trueRUG-MAKER.COM LIMITED053153832016-09-30199114692209114792100100209114792540311263115103-7012603176689167962176619180565852501185877979255794115776184270125002699249822Basis 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, adjusted for deposits received for rugs not yet delivered.
GoodwillPositive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its useful economic life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years. Useful ecomonic lives are reviewed at the end of each reporting period and revised if necessary, subject to the constraint that the revised life shall not exceed 10 years from the date of acquisition. The carrying amount at the date of revision is depreciated over the revised estimate of remaining useful economic life.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-Fully amortised
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.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
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 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 & MachineryWDV0.2500EquipmentWDV0.3300
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.
1000100010001000159151505186413216125536632216917160538641421613553663Ordinary1000110001000Ordinary11001001002016-12-20Mr R MathiasMr J BlairDirectortruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureRUG-MAKER.COM LIMITED2015-10-012016-09-30RUG-MAKER.COM LIMITED2014-10-012015-09-30RUG-MAKER.COM LIMITED2014-09-30RUG-MAKER.COM LIMITED2015-09-30RUG-MAKER.COM LIMITED2015-09-30RUG-MAKER.COM LIMITED2016-09-30 2017-06-14
