Abbreviated Company Accounts - INVEST CONNECTIONS ASIA 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 revenue resulting from exchange transactions under which a seller supplies to customers the goods or services that it is in business to provide.
Following the principles of revenue recognition as stated in UITF 40 and Application Note G of Financial Reporting Standard 5, income is recognised as the right to consideration is obtained through application of contractual performance.

Tangible assets depreciation policy
The cost of tangible fixed assets includes expenditure incurred in bringing the assets into working condition for their intended use. Depreciation is provided at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Rate Method

Office equipment 25% per annum reducing balance

Other accounting policies
Going concern basis of accounting
At the balance sheet date the company’s liabilities exceeded its assets. The company has received assurance from the director that she will continue to give financial support to the company for twelve months from the date of signing these accounts.
On this basis, the director considers it appropriate to prepare on accounts on a going concern basis. However, should the financial support mentioned not be forthcoming, the going concern basis used in preparing the company’s accounts may be invalid and adjustments would have to be made to reduce the value of the assets to their realisable value and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company’s assets or liabilities that might be necessary should the basis not continue to be appropriate.