Abbreviated Company Accounts - BRYNSTORE LIMITED

1Accounting Policies

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

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT 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 less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings LeasTangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold Over period of the lease
Fixtures, fittings & equipment 15% on net book value

Plant and machinery 15% on net book value/reducing balance basis
Fixtures, fittings & equipment 15% on net book value/reducing balance basis

Valuation information and policy
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

5Transactions with directors