Abbreviated Company Accounts - CAPITAL JLS 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
The turnover shown in the profit and loss account represents amounts invoiced during
the period, exclusive of Value Added Tax.

Tangible assets depreciation policy
Tangible Fixed Assets are stated at initial cost less provision for depreciation.
No provision has been made for depreciation on heritable property as the directors are
of the opinion that the value is appreciating.
Depreciation is calculated so as to write off the cost of an asset, less its estimated
residual value, over the useful economic life of that asset as follows:
Plant & Equipment - 25% straight line
Motor Vehicles - 25% straight line

Other accounting policies
Operating lease agreements
Assets obtained under finance leases and hire purchase contracts are capitalised as
tangible fixed assets. Assets acquired under finance leases and hire purchase contracts
are depreciated over the shorter of the lease term and their useful lives. Finance
leases are those where substantially all of the benefits and risks of ownership are
assumed by the company. The finance element of the rental payment is charged against
profits so as to provide a constant periodic rate of charge on the net obligation
outstanding in each period.

4Transactions with directors