Accounts filed on 31-03-2014
Accounts filed on 31-03-2014
trueOdyssey Developments (UK) Limited061899222014-03-31-8182-8182-8082-8082100100-8082-808258700069900057891869091857891869091814559968393872034914153030523546183819945971528467167710Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with applicable UK accounting standards.
The going concern basis has been used.
The directors expect the major creditors, because of the nature of their relationship with the company, to continue with their support for at least twelve months from the date of approval of the financial statements.
If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of the assets to their recoverable amounts, to provide for any further liabilities that might arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Cash flow statement
The directors have taken advantage of the exemption in Financial Reporting Standard No 1 (Revised 1996) from including a cash flow statement in the financial statements on the grounds that the company is small.
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
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.
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.
587000699000Ordinary11001001002014-12-24Mr. J. O'Neilltruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureOdyssey Developments (UK) Limited2013-04-012014-03-31Odyssey Developments (UK) Limited2012-04-012013-03-31Odyssey Developments (UK) Limited2012-03-31Odyssey Developments (UK) Limited2013-03-31Odyssey Developments (UK) Limited2013-03-31Odyssey Developments (UK) Limited2014-03-31 2014-12-28
