Abbreviated Company Accounts - CAVEX 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.

The balance sheet shows net current liabilities of £41,411 as at 31 March 2016. The directors have considered this position and going concern and have reviewed the current trading performance of the company which shows a significant improvement in trading results and cash inflows. On the basis of this information the directors consider that it is appropriate for the accounts to be prepared on a going concern basis.

Turnover policy
Turnover represents commission amounts receivable net of VAT and trade discounts in respect of goods bought and sold.

Tangible assets depreciation policy
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment - 25% on a reducing balance basis

Intangible assets amortisation policy
Intangible Fixed Assets are stated at cost less amortisation. Amortisation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Trading database and website Written off at 25% per annum on a reducing balance basis

Other accounting policies
Stock
Stock is valued at the lower of cost and net realisable value.