Abbreviated Company Accounts - WHITEHAVEN RUGBY LEAGUE FOOTBALL CLUB (2010) LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The unaudited accounts are prepared under the historical cost convention and comply with financial reporting standards of the Accounting Standards Board.

Turnover policy
Turnover represents the total value, excluding value added tax, of income arising during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Fixtures fittings and equipment 15% reducing balance
Motor Car 25% Straight line

Intangible assets amortisation policy
Acquired goodwill is written off in equal instalments over its estimated useful economic life of 10 years .

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 assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

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.