Abbreviated Company Accounts - THE ARRAN BUTCHER LTD

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings freehold - Nil
Plant and machinery - 10% reducing balance
Fixtures, fittings and equipment - 25% reducing balance
Motor vehicles - 33% reducing balance

Intangible assets amortisation policy
Acquired goodwill is written off in equal annual installments over its estimated useful economic life.

Other accounting policies
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.