Abbreviated Company Accounts - ABLEGOLD COMPUTERS 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 is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the accounting period provided that the outcome can be reliably estimated, When the outcome cannot be reliably estimated, revenue is only recognised to the extent that the expenses incurred are recoverable.

Tangible assets depreciation policy
Depreciation is provided so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings 25% reducing balance