Abbreviated Company Accounts - THE YORK SALON LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements 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 net invoiced sales of goods and services, excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements - 10% on cost
Fixtures, fittings and equipment - 10% on cost

Intangible assets amortisation policy
Goodwill, being the amount paid in connection with the acquisition of the business is being amortised evenly over its estimated useful life of ten years.

Valuation information and policy
Stocks are valued at the lower of cost and net realisable value, after making due allowance for slow moving items.

Other accounting policies
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Grants
Grants in respect of revenue expenditure are credited to the profit and loss account in the period the related expenditure is incurred.

Ultimate Parent Company

The company is a 100% subsidiary of Ajcam Holdings Limited a company incorporated in the UK. The accounts of Ajcam Holdings Limited are available from 24 St Cuthberts Way, Darlington, DL1 1GB.