Abbreviated Company Accounts - THE SAND BAR AND SEAFOOD COMPANY LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently.

Turnover policy
Turnover represents amounts invoiced during the year excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Fixtures, fittings and equipment: 5% straight line basis

Motor vehicles: 25% reducing balance basis

Leasehold improvements: This has not been depreciated in current or prior year in accordance with the Directors' view that the asset is appreciating in value. This policy will be reviewed on an annual basis.

Other accounting policies
Deferred tax
Deferred tax arises as a result of accelerated capital allowances and the resulting tax written down values being less than the book written value of those assets which may give rise to a future corporation tax liability.