Accounts filed on 31-10-2014
Accounts filed on 31-10-2014
trueSeabraes LimitedSC3655482014-10-3168431411278415241133133119671196712784152418189515209394679167334-320267-2476123505543656563028711804430187117944100100414946414946414946414946Basis 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).
Consolidation
In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Finance lease agreements
Where the company enters into a lease which entails taking substantially all the risks and rewards
of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the
balance sheet as a tangible fixed asset and is depreciated in accordance with the above
depreciation policies. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account on a straight line basis, and the capital element which reduces the outstanding obligation for future instalments.
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 asset of the company after deducting all of its liabilities.414946414946414946414946Ordinary13330.10133133Ordinary0.1013313313332015-04-29Mr K Pirietruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureSeabraes Limited2013-11-012014-10-31Seabraes Limited2012-11-012013-10-31Seabraes Limited2012-10-31Seabraes Limited2013-10-31Seabraes Limited2013-10-31Seabraes Limited2014-10-31 2015-06-24
