Abbreviated Company Accounts - LED SHINE 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 revenue earned during the period, exclusive of VAT.

Tangible assets depreciation policy
The cost of tangible fixed assets includes cost of purchase and expenditure incurred in bringing the asset into working condition for their intended use. Depreciation is provided on all tangible assets, on straight line basis at following annual rates:

Fixtures, fittings and equipment - 10%

Intangible assets amortisation policy
The cost of intangible fixed assets is the purchased goodwill which is amortised on a straight line basis at 5% per annum.

Valuation information and policy
Stock is stated at the lower of cost and net realisable value. Cost is calculated at cost of purchase on a first in first out basis.

Other accounting policies
Deferred tax is recognized, where material, in respect of timing differences that have originated but not reversed by the balance sheet date.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the lease term.