Abbreviated Company Accounts - RENOVO EMPLOYMENT GROUP 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.

Going concern
The use of the going concern basis of accounting is considered appropriate because the Company has moved into profitability in the first part of 2015 after significant investment by the director and he continues to have the resources to finance the Company's working capital

Turnover policy
TURNOVER
Turnover in the profit and loss accounts represents amounts due for work performed in the year for the provision of employment services, excluding value added tax.
All sales are recognised on an accruals basis.

Tangible assets depreciation policy
TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 10% on cost
Computer equipment - 33% on cost and 20% on cost

Depreciation on Computer equipment is higher this year due to some redundant equipment being written down to its estimated residual value.

Other accounting policies
GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.