Abbreviated Company Accounts - THE OHH PUB COMPANY LIMITED

1Accounting Policies

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

Turnover policy
Turnover comprises revenue recognised by the company in respect of goods and services supplied
during the year, exclusive of Value Added Tax and trade discounts.

Tangible assets depreciation policy
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:
Leasehold property - 5% straight line
Fixtures and fittings - 15% reducing balance

Other accounting policies
CASH FLOW
The financial statements do not include a Cash Flow Statement because the company, as a small
reporting entity, is exempt from the requirement to prepare such a statement under the Financial
Reporting Standard for Smaller Entities (effective January 2015).

GOING CONCERN
The company depends on its existing bank facilities to meet its day to day workings capital
requirements. Current forecasts indicate that the company expects to be able to operate within these
facilities for the whole of the foreseeable future. These facilities are renewed annually and are not
guaranteed for the period covered by the going concern review. The Directors are not fully aware,
however, of any circumstances that may adversely affect the renewal of these facilities. Accordingly,
the directors believe it is appropriate to prepare the financial statements on the going concern basis.

LEASING AND HIRE PURCHASE
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed
assets. Assets acquired by finance lease 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 on a straight line basis.

OPERATING LEASE
Rentals under operating leases are charged to the Profit and Loss Account on a straight line basis
over the lease term.Benefits received and receivable as an incentive to sign an operating lease are recognised on a
straight line basis over the period until the date the rent is expected to be adjusted to the prevailing
market rate.

STOCKS
Stocks are valued at the lower of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of
fixed and variable overheads.