Abbreviated Company Accounts - PICPICID LIMITED

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).

Turnover policy
Turnover represents amount chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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 expected useful economic life as follows:

Fixtures and fittings straight line over 3 years

Intangible assets amortisation policy
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated
residual value, over their expected useful economic life as follows:

Trademark straight line over 10 years.

Other accounting policies
Research and development expenditure is written off as incurred.

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow
moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

During the year 4,472 ordinary shares of £0.001 each having an aggregate nominal value of £4 were allotted for an aggregate consideration of £65,000. To provide working capital.