Abbreviated Company Accounts - D.R. CONSULTANTS 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 shown in the profit and loss account represents revenue earned during the period, net of value added tax and trade discounts.

Tangible assets depreciation policy
Tangible Fixed Assets, other than freehold land and building, are stated at cost or valuation less depreciation and any provision for impairment.
Depreciation is provided, at the following annual rates, calculated to write off the cost or valuation of fixed assets over their expected useful lives:
Plant and Machinery 5 Years Straight line
Computer Equipment 3 Years Straight line
Website Development 3 Years Straight line

Intangible assets amortisation policy
None

Valuation information and policy
None

Other accounting policies
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future. If the ongoing concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Research & Development Expenditure
Research and development expenditures charged to the profit and loss account in the period in which it is incurred.
Website Cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Stocks
Stocks are stated at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Deferred Taxation
Provision is made for deferred tax assets and liabilities arising from timing differences between the recognition of gains and losses in the financial statements and their recognition for tax purposes.