Accounts filed on 31-03-2014

trueOERS Limited023558982014-03-3122-406628-40606628-40608951702312923-1731-9978-1420466290617705631247566419483819180008450636492510901124731090112473Basis 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. Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. 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. 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 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 financial statements have been prepared under the going concern basis given the continued support of the director. If the company was unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values to their recoverable amount and to provide for future liabilities that may arise.Plant & Machineryreducing balance0.1500Motor Vehiclesstraight line0.2500Equipmentstraight line0.3300Alterations to leasehold propertyreducing balance0.0500517915124354840890387702120517915124354840890387702120Ordinary5000015000050000Ordinary16662014-12-19Mr R V Ringlandtruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureOERS Limited2013-04-012014-03-31OERS Limited2012-04-012013-03-31OERS Limited2012-03-31OERS Limited2013-03-31OERS Limited2013-03-31OERS Limited2014-03-31 2014-12-19