Abbreviated Company Accounts - PRESSBEAU (BEDS.) LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared in accordance with applicable accounting standards and under the historical cost accounting rules.

Turnover policy
Turnover is derived from the provision of care home services.

Tangible assets depreciation policy
Depreciation on Fixed assets is provided at rates estimated to write off the cost (or revalued amount) less estimated residual value, of each asset over its expected useful lives as follows:

Freehold Land & Buildings : 2% per annum
Fixtures and fittings, and office equipment: 25% per annum

Intangible assets amortisation policy
Goodwill
Goodwill is the difference between the value of the acquired business as a whole and the aggregate of the fair values of its separable net assets. Amortisation is provided to write off the cost of goodwill on a straight-line basis over 20 years.

Other accounting policies
Going concern
The company has net liabilities of £316,801 at the end of the year. The company is dependent on the continuing support of its shareholders. The financial statements have been prepared on a going concern, which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continuing support of the shareholders. The financial statements do not include any adjustments that would result from a failure to obtain such financial support.

Cash flow statement
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from producing a cash flow statement on the grounds that it is a small company.

Taxation
The charge for taxation is based on the profit for the year and takes into account taxation deferred because of timing differences between the treatment of certain items for taxation and accounting purposes. Deferred tax is provided in accordance with FRS 19. Deferred tax assets are only recognised to the extent that they are recoverable.