Abbreviated Company Accounts - REALISTIC MUSIC LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the invoiced value of goods and services supplied by the company. This company is not registered for vat.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Freehold Property 2% Straight Line
Studio Refurbishment and Equipment 25% Reducing Balance
Freehold Property Refurbishment 5% Straight Line

Other accounting policies
Taxation
Corporation tax payable is provided on taxable profits at the current rates. Provision is made for deferred tax in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future or the right to pay less tax in the future. An asset has not yet been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.