Abbreviated Company Accounts - HOLBORN FINANCIAL 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
The turnover shown in the profit and loss account represents amounts invoiced during the year. In respect of long term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible assets depreciation policy
All fixed assets are initially recorded at cost. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings - 25% per annum (Reducing Balance Basis)
Office Equipment - 25% per annum (Reducing Balance Basis)

Intangible assets amortisation policy
Goodwill is initially recorded at the Directors' estimate of future economic value. Amortisation is calculated so as to write off the value of Goodwill, less its estimated residual value, over the useful economic life as follows:
Goodwill - 5% per annum (Straight Line Basis)