Abbreviated Company Accounts - APPLE CENTRAL TAXIS (SW) 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, which is stated net of value added tax, represents work done for third
parties. All turnover is attributable to geographical markets in the United Kingdom.

Tangible assets depreciation policy
Depreciation
Depreciation is provided at the following annual rates in order to write off each asset
over its estimated useful like:
Plant and Equipment etc. - 25% on reducing balance
Motor Vehicles - 25% on reducing balance
Leasehold Improvements - 20% straight line

Intangible assets amortisation policy
Intangible Fixed Assets
Intangible Fixed Assets (including purchased goodwill) are amortised at rates calculated
to write off the assets on a straight line basis over their estimated useful economic lives.
of 5 years. Impairment of intangible assets is only reviewed where circumstances indicate
that the carrying value of an asset may not be fully recoverable.

Other accounting policies
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts are capitalised in the
balance sheet and are depreciated over their usual lives.
The corresponding lease or hire purchase obligation is capitalised in the balance sheet
as a liability. The interest element of the rental obligations is charged to the profit and
loss account over the period of the lease and represents a constant proportion of the
balance of capital repayments outstanding.
Rentals payable under operating leases are charged to the profit and loss account on a
straight line basis over the lease term.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation
computations in periods different from those in which they are included in the company's
accounts. Deferred tax is provided in full on timing differences which result in an
obligation to pay more (or less) tax at a future date, at the average tax rates that are exp-
ected to apply when the timing differences reverse, based on current tax rates and laws.

4Fixed assets Investments
The investment comprises a 50% ownership of the Gemini Taxis partnership.
At 30th April 2015 the aggregate of 50% of Gemini's net assets is not believed
to be less than the current balance sheet value.