Abbreviated Company Accounts - PLEASETECH 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 is the amount derived from the provision of goods and services falling within the company's ordinary activities after deducting trade discounts and value added tax and having due regard to the provisions of Application Note G to FRS 5 with respect to service contracts. Turnover is derived solely from continuing operations.

Tangible assets depreciation policy
Provision is made for depreciation on all tangible assets at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life as follows:

Computer equipment: straight line over 3 years
Fittings & Fixtures: straight line over 5 years
Telecoms equipment: straight line over 5 years
Furniture: straight line over 6 years

Intangible assets amortisation policy
Intangible fixed assets (including purchased goodwill) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Other accounting policies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at monthly average rates of exchange for the month in which the transaction occurred. Exchange differences are taken into account in arriving at the operating profit. The activities of the company’s Malaysian Branch are translated into sterling using the temporal method.