Accounts filed on 31-03-2014
Accounts filed on 31-03-2014
trueCarpet Accessory Trims Limited019886352014-03-316729606663176739606673171000100067396066731780048002551949693700279721810482687432677459393358058942080790735316264257821200050165800425766367114217592289133217592289133Basis 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
Turnover represents the value of goods sold and services provided to customers.
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:
Trade Marks-over 5 years
Depreciation
Improvements to premises-10% on cost
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Work in progress and finished goods are valued based on the cost of direct materials and labour plus attributable overheads based on the normal level of activity.
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.
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.
Fixed Assets
All fixed assets are initially recorded at cost.
Plant & MachineryReducing balance0.2500Fixtures & FittingsReducing balance0.2500Motor VehiclesStraight line0.2000500050005000500071703575220211490-4665849944346306982667-4629472203575720211490-46658504443468069-4629482667Ordinary1000110001000Ordinary11000100010002014-11-05Mr P J Haydentruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureCarpet Accessory Trims Limited2013-04-012014-03-31Carpet Accessory Trims Limited2012-04-012013-03-31Carpet Accessory Trims Limited2012-03-31Carpet Accessory Trims Limited2013-03-31Carpet Accessory Trims Limited2013-03-31Carpet Accessory Trims Limited2014-03-31 2014-12-23
