Accounts filed on 31-12-2015
Accounts filed on 31-12-2015
trueConcept Plastic Developments Limited028655892015-12-31561119396611293910001000661129396611293962742835497562111124990461078066303104861591930337104337104Basis 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 January 2015).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Leasing and hire purchase commitments
Assets held under finance leases, which are leases where substantially all the risks and rewards
of ownership of the asset have passed to the company, and hire purchase contracts, are capitalised
in the balance sheet and are depreciated over their useful lives. The capital elements of future
obligations under the leases and hire purchase contracts are included as liabilities in the balance
sheet.
The interest elements of the rental obligations are charged in the profit and loss account over the
periods of the leases and hire purchase contracts and represent a constant proportion of the balance of capital repayments outstanding.
Deferred taxation
Provision is made for taxation deferred as a result of material timing differences between the incidence of income and expenditure for taxation and accounts purposes using the liability method, only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the near future.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Plant & MachineryMethod for Plant & equipment0.0000Motor VehiclesMethod for Motor vehicles0.0000EquipmentMethod for Equipment0.00001538615042344150491493811115386150423441504914938111Ordinary1000001100000100000Ordinary11000100010002016-09-29J. G. B. Turnertruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureConcept Plastic Developments Limited2015-01-012015-12-31Concept Plastic Developments Limited2014-01-012014-12-31Concept Plastic Developments Limited2013-12-31Concept Plastic Developments Limited2014-12-31Concept Plastic Developments Limited2014-12-31Concept Plastic Developments Limited2015-12-31 2016-09-30
