Abbreviated Company Accounts - ENJOY DESIGN 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 January 2015).

Turnover policy
Turnover represents amounts invoiced for goods and services net of VAT and under UITF40 'Revenue Recognition and Service Contracts' work carried out but not yet invoiced is recognised as turnover to the extent that the company has obtained right to consideration in exchange for its performance. These uninvoiced amounts are included in debtors as 'amounts recoverable on contracts'.

Tangible assets depreciation policy
Depreciation of tangible fixed assets is provided on cost over their estimated useful lives. The annual rates and methods of depreciation are as follows:-
Computers and office equipment - 33.33% straight line basis

Other accounting policies
Cash flow statement
The company qualifies as a small company under the Companies Act 2006. The director has elected to take advantage of the exemption under FRSSE not to prepare a cash flow statement.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date. Deferred tax is not recognised when assets are revalued unless, by the balance sheet date, the company has entered into a binding agreement to sell the assets and recognised the gains or losses expected to arise on sale.

Leases
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Pensions
The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.