Accounts filed on 30-06-2015
Accounts filed on 30-06-2015
trueClockhouse Furniture LtdSC2816862015-06-30369089977141908104771500050004190810477152834749791050823601838241933121-112644-3829834566338013423301934183680022125189150732216594226553950885971419950885971419Basis 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.
Depreciation
Land is not depreciated in anticipation of rising value.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
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, with
the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments)
of fixed assets, and gains 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.
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.
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 & BuildingsStraight line0.0200Plant & MachineryReducing balance0.1500Fixtures & FittingsStraight line0.3300Motor VehiclesReducing balance0.2500WebsiteReducing balance0.2500
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Exchange differences are taken into account in arriving at the operating profit.
10319661031296670810815987721204Property consists of land and completed buildings capitalised.
The share capital has been amended in the year ended 30 June 2007 to reflect the actual share issue of 1 ordinary share of £1 each. The previous year accounts showed 100 shares of £1 each. 10319661031296670810815987721204
Property consists of land and completed buildings capitalised.
The share capital has been amended in the year ended 30 June 2007 to reflect the actual share issue of 1 ordinary share of £1 each. The previous year accounts showed 100 shares of £1 each.
Ordinary15000500050002015-11-30Mr N Parrytruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureClockhouse Furniture Ltd2014-07-012015-06-30Clockhouse Furniture Ltd2013-07-012014-06-30Clockhouse Furniture Ltd2013-06-30Clockhouse Furniture Ltd2014-06-30Clockhouse Furniture Ltd2014-06-30Clockhouse Furniture Ltd2015-06-30 2015-12-03
