Accounts filed on 30-04-2014
Accounts filed on 30-04-2014
trueInline Mechanical Building Services Ltd085069212014-04-301802190210019021902-1616552659364943185646381806718067Basis 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.
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.
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.
Compound instruments
Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability.
The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument.
The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.
Motor VehiclesMethod for Motor vehicles0.0000EquipmentMethod for Equipment0.0000258482584877817781258482584877817781Ordinary1000110000Ordinary11001001002014-12-04Mr M D Mitchelltruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureInline Mechanical Building Services Ltd2013-05-012014-04-30Inline Mechanical Building Services Ltd2012-05-012013-04-30Inline Mechanical Building Services Ltd2012-04-30Inline Mechanical Building Services Ltd2013-04-30Inline Mechanical Building Services Ltd2013-04-30Inline Mechanical Building Services Ltd2014-04-30 2014-12-04
