Abbreviated Company Accounts - E.TC3 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 represents the total value of goods, excluding value added tax, provided to
customers during the year, plus the value of work, excluding value added tax, performed
during the year with respect to services.

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:
Fixtures, fittings
and equipment - 25% straight line
Tangible fixed assets are stated at cost less accumulated depreciation.

Other accounting policies
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not
reversed at the balance sheet date where transactions or events have occurred at that date
that will result in an obligation to pay more, or a right to pay less or to receive more, tax.
Deferred tax is measured on an undiscounted basis at the rates that are expected to apply in
the periods in which timing differences reverse, based upon tax rates and laws enacted or
substantially enacted at the balance sheet date.
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.

5Transactions with directors