Accounts filed on 30-09-2016
Accounts filed on 30-09-2016
trueR.A PROPERTY LIMITED059442152016-09-3087473509088757351008100100875735100887573510082867210332655479709860684151720192367253911964742668107358901406761876620597386352007915000Basis 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.
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. 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-(over its useful life of 20 years)
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.
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.
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.
Fixtures & FittingsReducing Balance Basis0.2000Motor VehiclesReducing Balance Basis0.2500Leasehold PropertyOver the duration of the lease0.0000366183661817852160211831856145740028214469793732196581500015001237329401829714648315334211489Ordinary1001100100Ordinary1100100100CONTROLLING PARTY
The controlling party is Mr A. James, the managing director of the company.GOING CONCERN
As a result of his assessment the director has concluded that there are no material
uncertainties that may cast significant doubt about the company's ability to continue as a going concern.
The accounts have therefore been prepared on a going concern basis and assume the continuation of the financial support of the director.2017-06-16Mr A. Jamestruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureR.A PROPERTY LIMITED2015-10-012016-09-30R.A PROPERTY LIMITED2014-10-012015-09-30R.A PROPERTY LIMITED2014-09-30R.A PROPERTY LIMITED2015-09-30R.A PROPERTY LIMITED2015-09-30R.A PROPERTY LIMITED2016-09-30 2017-06-30
