Accounts filed on 31-08-2014
Accounts filed on 31-08-2014
trueEvalve (Northern) Limited071235052014-08-3118231177781833117878100100183311787818331178783475-247411767363573415242363326272404227183137987136077485166148561812575001125073566875Basis of accounting
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
The turnover shown in the profit and loss account represents amounts receivable for valves and associated fittings sold during the year, in the normal course of business, net of VAT.
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-4 years straight line
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.
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.
Plant & Machineryreducing balance0.2500Fixtures & Fittingsreducing balance0.2500150001500075003750375012933100002933557731252452279332500029331307768756202Ordinary1001100100Ordinary11001001002014-11-14Mr P J Burchtruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureEvalve (Northern) Limited2013-09-012014-08-31Evalve (Northern) Limited2012-09-012013-08-31Evalve (Northern) Limited2012-08-31Evalve (Northern) Limited2013-08-31Evalve (Northern) Limited2013-08-31Evalve (Northern) Limited2014-08-31 2014-11-14
