Abbreviated Company Accounts - LA MICRO GROUP (UK) 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 the invoiced value of goods and services supplied by the company, net
of value added tax and trade discounts.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over
their estimated useful lives:

Commercial vehicles - 25% reducing balance
Fixtures and fittings - 25% reducing balance

Valuation information and policy
Stocks and work in progress are valued at the lower of cost and net realisable value, after
due regard for obsolete and slow moving stocks.

Other accounting policies
Cash flow statement. The company is exempt from including a statement of cash flows in
its accounts in accordance with FRSSE (effective April 2008).

Deferred taxation. This is provided on the liability method to take account of timing
differences between the treatment of certain items for accounts purposes and their
treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of
all material timing differences to the extent that it is considered that a net liability may
crystallise.

Pension costs. The company operates a defined contribution pension scheme.
Contributions are charged to the profit and loss account as they become payable in
accordance with the rules of the scheme.

Foreign currency. Transactions in foreign currency are translated at the foreign exchange
rate ruling at the date of the transaction. Monetary assets and liabilities denominated in
foreign currencies at the balance sheet date are translated at the exchange rate ruling at
that date. Foreign exchange gains and losses are recognised in the income statement.