Abbreviated Company Accounts - GMR DESIGN UK LTD

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
All sales were within the United Kingdom

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

Equipment - 20% straight line

Intangible assets amortisation policy
Intangible fixed assets are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. The directors have assessed the expenditure and believe with reasonable certainty the project is technically feasible and commercially viable. Amortisation shall commence with the commercial production of the product.

Other accounting policies
At the Balance Sheet date the company’s liabilities exceeded its assets. The company has received assurance from the directors that they will continue to give financial support to the company twelve months from the date of signing these accounts. On this basis the directors consider it appropriate to prepare the accounts on a going concern basis.