Abbreviated Company Accounts - A.A. ANDERSON'S OF NOTTINGHAM 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, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Plant and machinery - 33% straight line
Fixtures, fittings and equipment - 25% reducing balance
Motor vehicles - 25% reducing balance

Valuation information and policy
Stock
Stock is valued at the lower of cost and net realisable value.

Other accounting policies
Leasing
Rentals payable under operating leases are charged against income on a staraight line basis over the lease term.

Going concern
The directors consider that in preparing the financial statements they have taken into account all information that could reasonably be expected to be available. On this basis they have concluded that a material uncertainty exists that casts significant doubt upon the company's ability to continue as a going concern. There was a net deficiency of assets at the balance sheet date. However the directors continue to support the business financially and consider it appropriate to continue to adopt the going concern basis of accounting.