Abbreviated Company Accounts - CAIRN TRUST MANAGEMENT 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 comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows:

Plant and machinery - 25% on written down value

Valuation information and policy
Work in progress

In accordance with UITF 40, work in progress is reflected in the accounts as the expected revenue due for work carried out during the period that has not yet been invoiced.

Other accounting policies
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year us calculated using the tax rates and laws that have been enacted or substantially enacted at the balance sheet date.

3Fixed assets Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from any financial fixed asset investments together with any related tax credit is recognised in the profit and loss account in the year in which it is receivable.