Abbreviated Company Accounts - J2CO CONSULTING LTD

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, net of value added tax, in respect of the sale of goods and services to customers.

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 lives as follows:
Asset class Depreciation method and annual rate
Office equipment Reducing balance 25%

Intangible assets amortisation policy
Amortisation is provided on intangible assets so as to write off the cost or valuation, less any estimated residual value over their expected useful economic life.
Asset class Amortisation method and rate
Goodwill Straight line 5% of the excess over ERV

Other accounting policies
FOREIGN CURRENCIES
Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

PENSIONS
The company operates a defined contribution pension scheme. Contributions are charged in the profit and loss account as they become payable in accordance with the rules of the scheme. The pensions cost charge for the year represents contributions payable by the company to the scheme and amounted to £60,000 (2013 - £30,000)

DEFERRED TAX
Deferred tax is recognised for all material timing differences which have originated but not reversed at the balance sheet date.

4Transactions with directors

The company is controlled by the director and family who own 100% of the called up share capital, and to whom all dividends have paid.