Abbreviated Company Accounts - TOTTERIDGE ASSOCIATES 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 amounts invoiced to clients net of discounts and value added tax

Tangible assets depreciation policy
Fixed assets are carried at cost less accumulated depreciation. Depreciation is provided so as to write off the cost of fixed assets less their estimated residual value over their anticipated useful lives at the following rates:
Office equipment - 3 years
Motor vehicles - 4 years
Furniture - 5 years

Other accounting policies
Foreign Currencies - Amounts invoiced to or by the company in foreign currencies are translated at the rate ruling on the date of the transaction. Any exchange differences are dealt with through the profit and loss account.

Deferred Taxation
The company provides for deferred taxation at the rates of taxation ruling in the year under review on items where there is a timing difference between their treatment for accounting and taxation purposes.

HP and Finance Leases
Assets acquired under hire purchase and finance leases are capitalised in the balance sheet and depreciated over their anticipated useful lives as indicated above. The related liability is also recognised in the balance sheet. Finance charges and capital repayments are accounted for on a straight line basis over the period of the agreement.