Abbreviated Company Accounts - STROKESAVER (UK) HOLDINGS 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
The turnover shown in the profit and loss account represents amounts invoiced during the year.

Tangible assets depreciation policy
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset.

Valuation information and policy
Stocks
Stocks are valued at the lower of cost and net realisable value.
Cost of Work in Progress and Finished Goods is calculated as cost of raw materials and labour together with attributable overheads.
Net realisable value is allocated only to those publications known to be current and based upon length of time in Group’s inventory.

Other accounting policies
Finance Lease Agreements
Where the Company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the Balance Sheet as a tangible fixed asset and is depreciated, as above. Future installments under such leases, net of finance charges, are included with creditors. Rentals payable under such leases are apportioned between the finance element, which is charged to the profit and loss account on a straight line basis, and the capital element which reduces the outstanding obligation for future installments.
Operating Lease Agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.