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Sealy Shaw Accountants Ltd
05701296
2016-02-29
30590
14837
30690
14937
100
100
30690
14937
21966
39497
52656
54434
42806
42067
137750
106330
180556
148397
163553
133218
7000
7721
10003
7458
9850
12367
9850
12367
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.
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.
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-20% straight line
Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed
assets at their fair value. The capital element of the future payments is treated as a liability and
the interest is charged to the profit and loss account on a straight line basis.
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 taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
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.
Fixtures & Fittings
straight line
0.2000
Motor Vehicles
reducing balance
0.2500
Equipment
straight line
0.2000
45372
45372
45372
45372
49534
49195
339
39684
36828
2856
94906
94567
339
85056
82200
2856
14339
24497
Ordinary
10000
1
10000
10000
Ordinary
1
100
100
100
During the year, the Company made a loan to a director. The amount outstanding at the end of the year and the maximum amount outstanding during the year was £74,553 (2015 £60,160). There are no fixed repayment terms and no interest was charged on the loan.
Director's current accounts
2016-10-18
Ms C Sealy
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
Sealy Shaw Accountants Ltd
2015-03-01
2016-02-29
Sealy Shaw Accountants Ltd
2014-03-01
2015-02-28
Sealy Shaw Accountants Ltd
2014-02-28
Sealy Shaw Accountants Ltd
2015-02-28
Sealy Shaw Accountants Ltd
2015-02-28
Sealy Shaw Accountants Ltd
2016-02-29
2016-10-18