Abbreviated Company Accounts - HADDEN HILL COMMUNITY GOLF CLUB 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 April 2008.

Turnover policy
Turnover
Turnover represents the value of goods and services supplied to customers during the year, net of Value Added Tax and trade discounts

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and Machinery – 25% on cost

Cost is defined as the purchase cost less any residual value.

Depreciation is charged from the month of acquisition at the above rates.

The net book values of the assets are regularly reviewed by the Directors and further adjustments to carrying values are made where considered appropriate.

Other accounting policies
Stocks
Stocks are values at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Deferred Tax
Deferred taxation is recognised in respect of all significant timing differences between the treatment of certain items for taxation and accounting purposes which have arisen but not reversed by the Balance Sheet date. Full provision is made without discounting for all significant deferred tax liabilities. Significant deferred tax assets are recognised to the extent that it is more likely than not that they will be recovered against taxation profits.

Hire Purchase and Leasing Commitments
Rentals paid under operating leases are charged to the Income and Expenditure Account on a straight line basis over the period of the Lease.

2Company limited by guarantee
Company is limited by guarantee and consequently does not have share capital.