Abbreviated Company Accounts - J2L 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 total invoice value, including value added tax as the company is on the flat rate scheme, of services rendered during the year and derives from the provision of services falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over it's expected useful life, as follows:
Computer and other equipment - 20% on reducing balance.
Motor vehicles - 25% straight line.

Other accounting policies
Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.

Pensions
The pension costs charged in the financial statements represents the contributions payable by the company during the year.
The regular cost of provideing retirement pensions and related benefits is charged to the profit and loss account over the employees' service lives on the basis of a constant percentage of earnings.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to receive more, tax, with the following exceptions:
Provision is made for tax on gains arising from the revaluation(and similar fair value adjustments) of fixed assets, and gains on the disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only when the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

3Fixed assets Investments
Listed Investments
Cost at 1 September 2014 5015
Additions 121
Disposals (373)

Net Book Value at 31 August 2015 4763