Accounts filed on 31-01-2015
Accounts filed on 31-01-2015
truePort Engineering Limited053490162015-01-31869387903078869391903082448693919030821673212508886123915590309942317882407676552416717618870298533393754170159725283732450087755576181597708576181597708Basis 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 net invoiced sales of goods and services, excluding VAT.
Stocks
Stocks are valued at the lower of cost and net realisable value.
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.
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 material 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, with the following exceptions:
on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.
will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
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.
Land & Buildingson cost0.0200Plant & Machineryon a reducing balance basis0.2500Fixtures & Fittingson a reducing balance basis0.2500Motor Vehicleon a reducing balance basis0.2500Office Equipmenton a reducing balance basis0.250093817595747646508-6580936199435976854487-5226193817595747646508-65809361994359768-5226154487
There are none falling due after more than one year.
Ordinary1222Ordinary 'A'1111Ordinary 'B'1111Creditors: Amounts falling due within one yearThe following liabilities disclosed under creditors within one year are secured by the company: Hire purchase agreements £nil (2014 - £1,667).2015-08-20Mr SS Arnoldtruetruetruetruexbrli:sharesiso4217:GBPxbrli:purePort Engineering Limited2014-02-012015-01-31Port Engineering Limited2013-02-012014-01-31Port Engineering Limited2013-01-31Port Engineering Limited2014-01-31Port Engineering Limited2014-01-31Port Engineering Limited2015-01-31 2015-08-20
