Abbreviated Company Accounts - PUBLIC SECTOR CONSULTANTS 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 amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets other than freehold land are stated as cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected life, as follows:
Fixture & fittings 33% straight line
Equipment & heating equipment 20% straight line

Intangible assets amortisation policy
Intangible assets reflect goodwill purchased in February 2014, with the acquisition of Brampton Manor Sports Club, now trading as Princes Sports Club as a wholly owned subsidiary of Public Sector Consultants Limited. The Club has a life of 15 years, reflecting the lease held on the premises; hence intangible assets are being depreciated over 15 years on a straight line basis.

Other accounting policies
Assets obtained under hire purchase contracts and finance leases have not been capitalised as tangible assets. Rental payable under operating leases were charged against income on a straight line basis over the lease term. Five leasing agreements were in place at year end.

The company did not operate a pension scheme.

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.