Abbreviated Company Accounts - CAREFIRST HOMES 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 represents the total invoice value, after the deduction of trade discounts and value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

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:

Land and buildings - not depreciated
Fixtures, fittings and equipment - 25% straight line
Computer equipment - straight line over 3 years

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

Other accounting policies
Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.

Deferred taxation
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, with the following exceptions:

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.

Group accounts
The company is entitled to the exemption under Section 398 of the Companies Act 2006 from the obligation to prepare group accounts.

4Fixed assets Investments
Subsidiary undertaking 2016 : £2 (2014 : £2).

The company holds 100% of the share capital of Heaton Lodge Limited and the results from the last relevant financial year were : Capital and reserves £180,902, Profit for the year £19,669.

The company holds 100% of the share capital of Clyde House Limited and the results from the last relevant financial year were : Capital and reserves £27,125, Profit for the year £39,923.