Abbreviated Company Accounts - CODEPLAN LTD

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 January 2015.

Turnover policy
Turnover represents the total value of goods, excluding value added tax, provided to customers during the year, plus the value of work, excluding value added tax, performed during the year with respect to services.

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:
Leasehold properties - Straight line over the life of the lease
Fixtures, fittings and equipment - 25% straight line
Motor vehicles - 25% straight line
Computers - 33% straight line
Tangible fixed assets are stated at cost less accumulated depreciation.

Intangible assets amortisation policy
Goodwill:-
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 5 years.

Other accounting policies
Research & development:-
Research expenditure is written off to the profit and loss account in the year in which it is incurred.

Leasing:-
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Pensions:-
The pension costs charged in the financial statements represent the contribution payable by the company during the year.

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.

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.