Accounts filed on 31-05-2015
Accounts filed on 31-05-2015
trueAlow Estates Ltd065883782015-05-31828531101868295311028610010082953110286394151407566477104517852-439571-423917570749542330131178118413127069116925410914889166759417698996758997691700042000Basis of accounting
The unaudited 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 consisted of rents and similar charges receivable.
Investment properties
Investment properties are shown at their open market value. The surplus or deficit arising from
the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or
its reversal, on an individual investment property is expected to be permanent, in which case it
is recognised in the profit and loss account for the year.
This is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Fixed Assets
All fixed assets are initially recorded at cost.
Fixtures & Fittingsreducing balance0.2000Equipmentreducing balance0.100090105990091414513841145239The properties were valued by the director as at the year end.
1700042000-25000918059942914-2485513841145239
The properties were valued by the director as at the year end.
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