Abbreviated Company Accounts - CLEARLIGHT SOLUTIONS LTD

1Accounting Policies

Basis of measurement and preparation of accounts
The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Tangible assets depreciation policy
Depreciation is provided on tangible fixed assets, so as to write off the cost or valuation, less any estimated residual value, over their useful economic life as follows:

Office Equipment - 33% Straight Line

Other accounting policies
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.