Abbreviated Company Accounts - DISTANT HORIZONS UK 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 chargeable, net of value added tax, in respect of the sale of goods and
services to customers.

Tangible assets depreciation policy
Depreciation
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 life as follows:
Asset class Depreciation method and rate
Motor Vehicles 25% reducing balance
Office equipment 25% reducing balance
Equipment 15% reducing balance

Other accounting policies
Going concern
The directors consider that the Company has access to adequate resources to continue in business
for the foreseeable future and that it is therefore appropriate to adopt the going concern basis in
preparing these accounts.
Deferred tax
Deferred tax is recognised, without discounting, in respect of all timing differences between the
treatment of certain items for taxation and accounting purposes, which have arisen but not reversed
by the balance sheet date, except as required by the FRSSE.
Deferred tax is measured at the rates that are expected to apply in the periods when the timing
differences are expected to reverse, based on the tax rates and law enacted at the balance sheet
date.
Hire purchase and leasing
Rentals payable under operating leases are charged in the profit and loss account on a straight line
basis over the lease term.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its
liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability
component are charged as interest expense in the profit and loss account.

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 life.

The Company is controlled by one individual who is not a director of the Company.