Notes to the Abbreviated Accounts
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For the year ending 31 October 2003 |
1 |
Accounting policies
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standards for Small Entities (effective June 2002)
Turnover Turnover represents the invoiced value of goods and services supplied by the company, net of VAT and trade discounts.
Stocks Stock is valued at the lower of cost and net realisable value
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Land & Buildings |
10% |
straight line |
Furniture |
20% |
straight line |
Computer Equipment |
20% |
straight line |
Communications Equipment |
20% |
straight line |
Motor Vehicles |
25% |
straight line |
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2 |
Intangible fixed assets
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Cost or valuation |
£
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At 01 November 2002 |
1,195 |
Additions |
100 |
Disposals |
200 |
Revaluations |
100 |
Transfers |
0 |
At 31 October 2003 |
1,195 |
Amortisation |
At 01 November 2002 |
295 |
Charge for year |
200 |
On disposals |
50 |
At 31 October 2003 |
445 |
Net Book Value |
At 31 October 2003 |
750 |
At 31 October 2002 |
900 |
Intangible Assets Free Text Note
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3 |
Tangible fixed assets
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Land & Buildings |
Plant & Machinery |
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Total |
Cost |
£
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£
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£
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At 01 November 2002 |
1,000 |
10,041 |
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11,041 |
Additions |
0 |
769 |
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769 |
Disposals |
0 |
0 |
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0 |
Revaluations |
500 |
0 |
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500 |
Transfers |
0 |
0 |
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0 |
At 31 October 2003 |
1,500 |
10,810 |
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12,310 |
Depreciation |
At 01 November 2002 |
100 |
1,887 |
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1,987 |
Charge for year |
100 |
2,259 |
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2,359 |
On disposals |
0 |
0 |
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0 |
At 31 October 2003 |
200 |
4,146 |
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4,346 |
Net Book Value |
At 31 October 2003 |
1,300 |
6,664 |
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7,964 |
At 31 October 2002 |
900 |
8,154 |
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9,054 |
Tangible Assets Free Text Note
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4 |
Creditors: amounts falling due within one year
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Creditors Due Within One Year Free Text Note |
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2003 |
2002 |
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£
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£
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Bank loans and overdrafts
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1,256 |
1,444 |
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Trade creditors
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1,341 |
688 |
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Taxation and Social Security
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368 |
324 |
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2,965 |
2,456 |
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5 |
Creditors: amounts falling due after more than one year
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Creditors Due After One Year Free Text Note |
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£
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£
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Bank loans and overdrafts
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2,610 |
2,835 |
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Obligations under finance leases
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2,165 |
2,715 |
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4,775 |
5,550 |
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6 |
Share capital
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2003 |
2002 |
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£
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£
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Authorised share capital:
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1000 A shares of £1 each
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1,000 |
1,000 |
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Allotted, called up and fully paid:
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100 A shares of £1 each
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100 |
50 |
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