This document was delivered using electronic communications and authenticated in accordance with section 707B(2) of the Companies Act 1985.
Notes to the 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 |
Exchange rate
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Using $1.77 to £1 for FY 2002/3, averaged over the period Using €1.49 to £1 for FY 2001/2, averaged over the period
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3 |
Intangible fixed assets
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$
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Net Book Value |
At 31 October 2003 |
750 |
At 31 October 2002 |
900 |
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4 |
Tangible fixed assets
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Total |
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$
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Net Book Value |
At 31 October 2003 |
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7,464 |
At 31 October 2002 |
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9,054 |
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5 |
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 $1 each
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100 |
50 |
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6 |
Profit and Loss Account
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2003 |
2002 |
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$
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€
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Balance brought forward
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1,234 |
5,360 |
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Profit or Loss for the current year
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(581) |
868 |
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Balance carried forward |
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6,432 |
6,444
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7 |
Fixed Assets
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This is a footnote for the fixed asset sections of the balance sheet.
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8 |
Debtors
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This is a footnote to the Debtors note.
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9 |
Turnover note title
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This is a footnote to Turnover.
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