Abbreviated Company Accounts - CAUSEWAY INVESTMENTS LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and the Companies Act 2006.

Going Concern
The company incurred a loss of £55,448 during the period ended 30 June 2015 (2014: £51,785) and as of that date, the company had a net current liability position of £153,081 (2014: £114,166). This is the company's second year of trading. Its activities have concentrated on the construction of the wind turbines which will be the source of future revenue stream. The Directors are satisfied that the company has access to sufficient funds to complete its projects and generate profits. On this basis, the Directors have prepared the accounts on a going concern basis.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life. A wind turbine is capitalised on initial purchase. Costs directly attributable to bringing a wind turbine into operational use are capitalised once commissioning of the turbine has been confirmed. A wind turbine and its direcly attributable costs are depreciated from the date the wind turbine becomes operational. Depreciation rates are as follows:

Land and buildings freehold - nil
Plant and machinery - 4% straight line

Other accounting policies
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.