true
Ray Coates Ceilings Limited
06485582
2016-03-31
-7645
12806
-7545
12906
100
100
-7545
12906
2167
2159
-5378
15065
-23815
-7128
30699
35744
6884
28616
6554
6636
280
825
50
21155
18437
22193
7600
11400
10837
10793
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.
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.
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.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
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.
Plant & Machinery
reducing balance
0.2000
Motor Vehicles
reducing balance
0.2500
Office Equipment
straight line
0.2500
38000
38000
30400
26600
3800
30360
27210
3150
19523
16417
3106
68360
65210
3150
49923
43017
6906
405
0
Ordinary shares
100
1
100
100
Ordinary shares
1
100
100
100
2016-06-14
Mr R Dawson-Coates
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
Ray Coates Ceilings Limited
2015-04-01
2016-03-31
Ray Coates Ceilings Limited
2014-04-01
2015-03-31
Ray Coates Ceilings Limited
2014-03-31
Ray Coates Ceilings Limited
2015-03-31
Ray Coates Ceilings Limited
2015-03-31
Ray Coates Ceilings Limited
2016-03-31
2016-11-21