Accounts filed on 31-03-2014
Accounts filed on 31-03-2014
trueFairway Construction Limited007360702014-03-318385175597839517569710010083951756974126315985712521423555412416523429218656209961428212552885213236763018064390689378821049126210491262Basis 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).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based
on normal level of activity. Provision is made for any foreseeable losses where
appropriate. No element of profit is included in the valuation of work in progress.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Plant & MachineryReducing balance0.3333Fixtures & FittingsReducing balance0.1000Computer EquipmentStraight line0.25001445314453134041319121314453144531340413191213Ordinary 'A'5515555Ordinary 'B'4514545Ordinary 'A'1555555Ordinary 'B'14545452014-12-19Mr P J Clarketruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureFairway Construction Limited2013-04-012014-03-31Fairway Construction Limited2012-04-012013-03-31Fairway Construction Limited2012-03-31Fairway Construction Limited2013-03-31Fairway Construction Limited2013-03-31Fairway Construction Limited2014-03-31 2014-12-19
