Abbreviated Company Accounts - H.C. WRAXALL AND CO. 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 total value of goods, excluding value added tax, provided to
customers during the year, plus the value of work, excluding value added tax, performed
during the year with respect to services

Tangible assets depreciation policy
Tangible fixed assets and depreciation
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 - 10% straight line
Fixtures, fittings
and equipment - 15% straight line
Motor vehicles - 20% straight line
Tangible fixed assets are stated at cost less accumulated depreciation

Intangible assets amortisation policy
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic
life of 20 years.
Patents & intellectual property
Patents and intellectual property are valued at cost less accumulated amortisation.
Amortisation is calculated to write off the cost in equal annual instalments over their estimated
useful life of 4 years.

Valuation information and policy
Stock
Stock is valued at the lower of cost and net realisable value.

Other accounting policies
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible
assets and depreciated over the shorter of the lease term and their useful lives. Obligations
under such agreements are included in creditors net of the finance charge allocated to future
periods. The finance element of the rental payment is charged to the profit and loss account
so as to produce constant periodic rates of charge on the net obligations outstanding in each
period.
Rentals payable under operating leases are charged against income on a straight line basis
over the lease term.
Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.
Pensions
The pension costs charged in the financial statements represent the contribution payable by
the company during the year.
The regular cost of providing retirement pensions and related benefits is charged to the profit
and loss account over the employees' service lives on the basis of a constant percentage of
earnings.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not
reversed at the balance sheet date where transactions or events have occurred at that date
that will result in an obligation to pay more, or a right to pay less or to receive more, tax.
Deferred tax is measured on an undiscounted basis at the rates that are expected to apply in
the periods in which timing differences reverse, based upon tax rates and laws enacted or
substantially enacted at the balance sheet date.

4Fixed assets Investments
Investment details 2015 2014
£ £
Participating interests 50 50
Holdings of 20% or more
The company holds 20% or more of the share capital of the following companies:
Country of registration Nature of Shares held
Company or incorporation business Class %
Subsidiary undertaking
Verdico Limited England & Wales Supply of substrate Ordinary 50

7Transactions with directors