Abbreviated Company Accounts - SPECIALISED CARRIER SOLUTIONS LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
These financial statements have been prepared on the going concern basis under the historical cost convention, and in accordance with the Companies Act 2006 and applicable accounting standards in the United Kingdom. The principal accounting policies, which have been applied consistently throughout the year, are set out below:

Turnover policy
Turnover represents the invoiced value of services supplied during the year excluding VAT and net of trade discounts. Revenue is recognised when, and to the extent that, the company obtains the right to consideration in exchange for its performance.

Tangible assets depreciation policy
The cost of tangible fixed assets is their purchase cost, together with any incidental costs of acquisition. Depreciation is calculated so as to write off the cost, of tangible fixed assets, less their estimated residual values, on a reducing balance basis over the expected economic lives of the assets concerned. The principal annual rates used are as follows:
Plant & machinery 20%

Other accounting policies
Debtors

Debtors are stated after all known bad debts have been written off and specific provision has been made against all debts considered doubtful of collection.

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 that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. A net deferred tax asset is recognised as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured at the average tax rates that are expected to apply in the years in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on an undiscounted basis.