Abbreviated Company Accounts - TASTE OF THE COUNTRY 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 total invoice value, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
All fixed assets are initially recorded at cost. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Leasehold properties - Not depreciation
Fixtures, fittings and equipment - 20% Straight Line
Computer Equipment - 33.33% Straight Line

Intangible assets amortisation policy
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years.

Valuation information and policy
Stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.

Other accounting policies
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Deferred taxation
Deferred tax us recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the
periods in which timing differences reverse, based on tax rates and laws enacted or substantively
enacted at the balance sheet date.

Going concern
The accounts have been prepared on the going concern basis on the assumption that the company
continues to receive financial support from the company's directors.