Abbreviated Company Accounts - CHRIS DUDLEY 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 total amount receivable by the company for goods supplied and services provided, net of flat rate value added tax.

Tangible assets depreciation policy
Depreciation is charged on the following bases to reduce the cost of the company’s tangible fixed assets to their net realisable values over their estimated useful lives at the following rates:

Motor vehicles 25% reducing balance
Office equipment 25% reducing balance

Other accounting policies
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 tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.