Abbreviated Company Accounts - ACE HYGIENE SUPPLIES 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 invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.

Tangible assets depreciation policy
Plant and machinery - 25% reducing balance
Motor cars - 25% reducing balance
Land and buildings are not depreciated

Other accounting policies
Stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
Deferred tax - deferred tax is recognised of all timing differences that have originated but not reversed at the balance sheet date.
Secured debt within one year was £29,000 (2014: £28,000). These are included under creditors' note.

The above includes a freehold property at the valuation of £1,450,000 which was carried out by the directors on 30th June 2015.

3Fixed assets Investments
Fixed asset investments include £200,540 for 100% of the ordinary share capital of CPS Supply Co Limited, a company which specialises in disposable paper, ceramics and glassware distribution. The aggregate amount of share capital and reserves of CPS Supply Co Limited as at 31st December 2014 was £81,924 and the profit after taxation for the year ended on that date was £46,104. No accounts have been prepared for the year ended 31st December 2015 yet.