Abbreviated Company Accounts - ALLTYPE HOSE & COUPLINGS LTD

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

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.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Leasehold property -amortised over 3 years
Plant and machinery -25% reducing balance basis
Motor vehicles -25% reducing balance basis
Equipment -25% reducing balance basis

3Transactions with directors

The company was under the control of A Daburn Esq throughout the current and previous year. A Daburn Esq is the managing director and sole shareholder.

The balance outstanding due to the director at the year end amounted to £20,888 (2015: £15,511).

Services amounting to £2,166 (2015: £11,493) were purchased from Swivel Designs Limited, a company under the control of A Daburn Esq.

During the period the company received services from Morningside Marketing totalling £17,310 (2015: £NIL). £2,049 (2015: £NIL) was outstanding at the balance sheet date.

A Daburn Esq is the managing director and sole shareholder of Morningside marketing Limited

No further transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Smaller Entities.