Accounts filed on 31-10-2016
Accounts filed on 31-10-2016
trueGeorge Groves Ltd073512322016-10-311626340849516363408595100100163634085956316258922679411184-4184032614481508253903966835153451361010434532341430645198504052310476399683993Basis 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 receivable for boxing bouts, exclusive of Value Added Tax.
Revenue is recognised based on the specific bout date.
Amortisation
Amortisation 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:
Website Development-5 years
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.
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.
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 a discounted/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.
Fixtures & FittingsMethod for Fixtures & fittings0.0000Motor VehiclesStraight Line0.2500EquipmentReducing balance0.2500Leasehold PropertyMethod for Leasehold property0.00002618261820951571524106029106029420332203619997108647108647441282360720521Ordinary1001100100Ordinary11001001002017-07-31G Grovestruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureGeorge Groves Ltd2015-11-012016-10-31George Groves Ltd2014-11-012015-10-31George Groves Ltd2014-10-31George Groves Ltd2015-10-31George Groves Ltd2015-10-31George Groves Ltd2016-10-31 2017-07-31
