Accounts filed on 31-03-2015

trueIsight Limited038328432015-03-3133984135363936484137863925000250003648413786394718725369412028404008132108217962232107704963642152884581430418269465006500214674199264279920186046279920186046Basis 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. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion. 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: 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. 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 assets of the company after deducting all of its liabilities. Plant & MachineryOn cost0.1000Fixtures & FittingsOn cost0.1200 Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit. 12463161096592149724966396910546558501246316109659214972496639691054655850Ordinary1000001100000100000Ordinary1250002500025000Directors' current accounts2015-11-18Mr A O AkingbehinMrs S L AkingbehinDirectortruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureIsight Limited2014-04-012015-03-31Isight Limited2013-04-012014-03-31Isight Limited2013-03-31Isight Limited2014-03-31Isight Limited2014-03-31Isight Limited2015-03-31 2015-12-22