Abbreviated Company Accounts - PROJECT & BUILDING CONSULTANCY LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The full financial statements, from which these abbreviated financial statements have been extracted,
have been prepared under the historical cost convention and in accordance with applicable
accounting standards and the Companies Act 2006.
Information on the impact of first-time adoption of FRS 102 is given in note 10.
The preparation of financial statements in compliance with FRS 102 requires the use of certain
critical accounting estimates. It also requires management to exercise judgment in applying the
Company's accounting policies (see note 3).

Turnover policy
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the
Company and the revenue can be reliably measured. Revenue is measured as the fair value of the
consideration received or receivable, excluding discounts, rebates, value added tax and other sales
taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are
provided in accordance with the stage of completion of the contract when all of the following
conditions are satisfied:
 the amount of revenue can be measured reliably;
 it is probable that the Company will receive the consideration due under the contract;
 the stage of completion of the contract at the end of the reporting period can be measured
reliably, and;
 the costs incurred and the costs to complete the contract can be measured reliably.