Abbreviated Company Accounts - RAD OPTICAL LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year.

Tangible assets depreciation policy
All fixed assets are initially recorded at cost.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Equipment - 25% straight line

Intangible assets amortisation policy
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill - 5 years straight line

Other accounting policies
The company was under the control of Mrs Dattani throughout the current year. Mrs Dattani is the managing director and majority shareholder.
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.