Abbreviated Company Accounts - JACCA 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 for goods and services net of VAT and trade discounts

Tangible assets depreciation policy
Tangible fixed assets other than freehold land and buildings are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows

The company changed its policy of depreciating land and buildings. The directors beleive that, given the nature of the land and buildings and the company's maintenance programmes, residual value will be at least equal to their cost. The land and buildings depreciation provided in previous years has been added back to reflect this change in policy

Land and buildings Freehold - no provision
Plant and machinery - 20% reducing balance
Fixtures, fittings & equipment - 4% straight line
Motor vehicles - 20% reducing balance

Intangible assets amortisation policy
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life