Abbreviated Company Accounts - D.J.G. DEVELOPMENTS 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 include Investment properties that have been valued by an independent professional valuer or a Director of the Company: Other tangible fixed assets are stated at cost or valuation less depreciation which is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life.

Investment properties are included in the balance sheet at their open market value on an existing use basis. Depreciation is provided only on those investment properties which are Leasehold and where the unexpired lease term is less than 20 years.

Although this Accounting Policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the Director compliance with the Standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of the many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Investment Properties are included at a valuation by an appropriately qualified professional valuer or, where such valuations are not available, by the Company's Director.