Abbreviated Company Accounts - KESH 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 amounts receivable by the company in respect of goods sold during the year excluding Value Added Tax.

Tangible assets depreciation policy
Tangible Fixed Assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets over their expected useful lives on the following basis:
Fixtures, Fittings and Equipment - 15% per annum on reducing balance basis.
Shorthold Lease - 10% per annum on reducing balance basis. Improvements to Property - 10% per annum on reducing balance basis.

Intangible assets amortisation policy
Goodwill is amortised to profit and loss account over its estimated economic life of twenty years.

Other accounting policies
Stocks
These are valued at the lower of cost and net realisable value.
Deferred Taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.