Abbreviated Company Accounts - 187 MILES 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 and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost or valuation less residual value of each asset over its expected useful life, as follows:
Land and buildings - Straight line over 25 years
Fixtures, fittings
and equipment - 25% straight line

Valuation information and policy
Work in progress is valued at the lower of cost and net realisable value.

Other accounting policies
Pensions
In prior years the Company made additional contributions into the 187 Miles Limited Employer
Financed Retirement Benefit Scheme ("The Scheme") for the benefit of its officers, employees and their wider families.
In accordance with UITF abstract 32 "Employee Benefit Trusts and other intermediate payment
arrangements" the Company does not include the assets and liabilities of The Scheme on its balance sheet to the extent that it considers that it will not retain any economic benefit from the assets of The Scheme and will not have control of the rights or other access to those present economic benefits.

Employee Benefit Trust
The company made a contribution of £100 to the 187 Miles Limited 2014 Employee Benefit Trust, a discretionary trust created to provide benefits to employees of the company. No decision had been taken by 30 November 2014 nor by the time these accounts were filed as to whether any substantive contributions would be made in the future.

4Transactions with directors