Abbreviated Company Accounts - ROMANO'S COFFEE 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 chargeable in respect of sales made during the period.

Tangible assets depreciation policy
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation , less any estimated residual value, over their expected useful economic life as follows:
Plant and equipment - 25% per annum of net book value
Motor vehicles - 25% per annum of net book value

Valuation information and policy
Stock
Stock is valued at the lower of cost and net realisable value.

Other accounting policies
Deferred taxation
Deferred tax is recognised in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE.
Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.