Abbreviated Company Accounts - DEVON SWEDES 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 January 2015.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

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:
Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance

Valuation information and policy
Stock is valued at the lower of cost and net realisable value.

Other accounting policies
Foreign currencies:
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the Profit and Loss account.

Going concern:
The director has considered the financial position of the company from the twelve month period from the date of approval of the financial statements. They have therefore been prepared on the going concern basis.