true
Martin Phelps Systems Ltd
05357035
2016-10-31
50402
36866
50502
36966
100
100
50502
36966
240
444
50742
37410
49544
35190
59410
41675
108954
76865
58170
33652
21643
11855
29141
31358
1198
2220
1198
2220
Basis 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.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
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 & Machinery
reducing balance
0.2000
Equipment
straight line
0.2000
3041
4057
192
-1208
1843
1837
559
-553
3041
4057
192
-1208
1843
1837
-553
559
Ordinary A
50
1
50
50
Ordinary B
50
1
50
50
Ordinary A
1
50
50
50
Ordinary B
1
50
50
50
Mrs C J Phelps was owed £10113 on her director's loan account (2015: £10343) and is included in creditors. The loan is interest free and repayable on demand.
2017-07-26
Mrs C J Phelps
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
Martin Phelps Systems Ltd
2015-11-01
2016-10-31
Martin Phelps Systems Ltd
2014-11-01
2015-10-31
Martin Phelps Systems Ltd
2014-10-31
Martin Phelps Systems Ltd
2015-10-31
Martin Phelps Systems Ltd
2015-10-31
Martin Phelps Systems Ltd
2016-10-31
2017-07-28