Abbreviated Company Accounts - AUTON & CO. 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
Turnover comprises revenue recognised by the company in respect of market research services supplied during the year, exclusive of Value Added Tax and trade discounts.

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

Computer equipment- 25% straight line
Equipment- 25% straight line

Other accounting policies
Going concern

The company has made a profit of £8,689 and had net liabilities of £10,020. Included in creditors are amounts due to the directors of £25,562. The directors have confirmed that they will continue to support the company for the foreseeable future and is confident about the company's ability to trade as a going concern and meet its financial obligations. Therefore the accounts have been prepared on the going concern basis.

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.