Abbreviated Company Accounts - CHARTERHOUSE TECHNOLOGY LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents the total invoice value, excluding value added tax and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

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:

Leasehold properties - straight line over the life of the lease.
Plant and machinery - 33.33% straight line.
Fixtures, fittings and equipment - 33.33% straight line.

Intangible assets amortisation policy
Goodwill – Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 5 years.

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 straight line basis over the lease term.

The financial statements are prepared on a going concern basis which the directors believe to be appropriate based on continued financial support from it's directors, sufficient to enable it to continue for the foreseeable future being at least 12 months from approval of these financial statements.