Abbreviated Company Accounts - METRIC ENTERPRISES LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The full financial statements, from which these abbreviated accounts have been extracted, have
been prepared under the historical cost convention as modified by the revaluation of Investment
property and in accordance with the Financial Reporting Standard for Smaller Entities (effective
January 2015).

Turnover policy
Turnover principally comprises rental income. Rental income is recognised when it becomes due
under the lease agreement.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at
rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value,over their expected useful lives on the following bases:

Fixtures and fittings - 15% reducing balance basis

Other accounting policies
Investment properties

Investment properties are included in the Balance sheet at their open market value in accordance
with the Financial Reporting Standard for Smaller Entities (effective January 2015) and are not
depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets
should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.

Stocks

Stocks represents properties for sale in Greece.
Stocks are valued at the lower of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of
fixed and variable overheads.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the
transaction.

Exchange gains and losses are recognised in the Profit and loss account.

Freehold investments properties have not been revalued during the year, because in the directors'opinion, the value shown above is not different from the market value as at 30 April 2016.