Abbreviated Company Accounts - BW EYECARE SERVICES LTD

1Accounting Policies

Basis of measurement and preparation of accounts
These financial statements have been prepared on a going concern basis, which assumes the continuing financial support of the director for the foreseeable future.

The financial 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 net invoiced sales of goods and services, consisting of the sale of eye care items and the provision of sight tests. Turnover is recognised at the date of sale.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% reducing balance

Intangible assets amortisation policy
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business on 2009, is being amortised evenly over its estimated useful life of five years.

Other accounting policies
Stocks
Stocks are valued at the lower of costs and net realisable value, after making due allowance for obsolete and slow moving items.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charges to the profit and loss account on a straight line basis over the period of the lease.