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Robert Little Garages Limited
05442373
780 5905 11
2016-06-30
20434
16939
20534
17039
100
100
20534
17039
23653
305
36959
42163
81146
59507
-41444
-49438
212364
187817
170920
138379
76789
70683
93403
67087
728
609
122590
108945
122590
108945
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.
Goodwill
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its useful economic life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years. Useful economic lives are reviewed at the end of each reporting period and revised if necessary, subject to the constraint that the revised life shall not exceed 20 years from the date of acquisition. The carrying amount at the date of revision is amortised over the revised estimate of remaining useful economic life.
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:
Goodwill-10 years straight line
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 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 is measured on 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.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Land & Buildings
Reducing balance
0.0200
Plant & Machinery
Reducing balance
0.2000
Fixtures & Fittings
Reducing balance
0.2000
Motor Vehicles
Reducing balance
0.2500
Office Equipment
Straight line
0.3333
35000
35000
35000
35000
312126
285515
26611
189536
176570
12966
347126
320515
26611
224536
211570
12966
25727
42163
11231
16436
Ordinary
100
1
100
100
Ordinary
1
100
100
100
2016-10-06
Mr R G Little
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
Robert Little Garages Limited
2015-07-01
2016-06-30
Robert Little Garages Limited
2014-07-01
2015-06-30
Robert Little Garages Limited
2014-06-30
Robert Little Garages Limited
2015-06-30
Robert Little Garages Limited
2015-06-30
Robert Little Garages Limited
2016-06-30
2016-10-26