Abbreviated Company Accounts - MARKETPOOL LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
Basis of Preparation
The financial statements have been prepared under the historical cost convention and in
accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Cash Flow Statement
The director has taken advantage of exemptions in Financial Reporting Standard No 1
from including a cash flow statement in the financial statements on the grounds that the
company is small.

Turnover
The turnover shown in the profit and loss account, represents amounts invoiced during the
year, exclusive of Value Added Tax.

Depreciation
Tangible Fixed Assets are stated at cost less depreciation.

Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles - 25% reducing balance
Plant and Equipment - 25% reducing balance
Leasehold Premises - Over the term of the lease



Intangible Fixed Assets and Amortisation
Intangible Fixed Assets are stated at cost less amortisation.

Amortisation is provided at rates calculated to write off the cost of fixed assets over their expected useful lives on the following bases:

Goodwill 10% Straight Line Basis

Leasing and Hire Purchase
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
Deferred Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised only to the extent that the directors consider that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.


TURNOVER

In the period to 31 August 2016, 0% of the company's turnover was derived from markets
outside the United Kingdom (2015 0%).