Abbreviated Company Accounts - CAMBRIDGE HEALTHCARE LTD

1Accounting Policies

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

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

Fixtures & fittings - 50% per annum
Computer equipment - 50% per annum

Intangible assets amortisation policy
Amortisation is provided to write off the cost or valuation, less estimated residual values of all intangible fixed assets evenly over their expected useful lives.

Domain names - 25% per annum

Other accounting policies
Going concern
After considering the development of the business and likely future trading conditions, the directors have formed a judgment at the time of approving the financial statements, that there is no reasonable expectation of the company continuing in operational existence. For this reason, the directors have decided to cease trading within 12 months and to not adopt the going concern basis in preparing these financial statements.

Deferred taxation
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date except that the recognition of deferred tax assets is limited to the extent that the company anticipates making sufficient taxable profits in the future to absorb the reversal of the underlying differences.

Deferred tax balances are not discounted.

Government grants
Grants relating to expenditure on tangible fixed assets are credited to the profit and loss account at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are credited to the profit and loss account in the period to which they relate.

Foreign currencies
Transactions denominated in foreign currencies are translated at exchange rates ruling on the date of the transaction. At the balance sheet date assets and liabilities are translated into sterling at rates of exchange ruling at that date. All exchange differences are dealt with through the profit and loss account.

Intangible fixed assets were reclassified as current assets due to the going concern basis not being adopted for these financial statements.

Fixed assets were reclassified as current assets due to the going concern basis not being adopted for these financial statements.

All amounts shown under debtors fall due for payment within one year.