Abbreviated Company Accounts - ELDIN TILE & STONE LTD.

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 invoice value , excluding value added tax , of sales made during the year and derives from the provision of goods falling within the company ordinary activities

Tangible assets depreciation policy
Tangible fixed assets and depreciation - Depreciation is provided at rates calculated to write off the cost less residual value of each assets over its expected useful life, as follows :

Fixture & fittings - 25% reducing balance
Motor vehicle - 25% reducing balance

Valuation information and policy
Stock - Stock is valued at the lower of cost and net realizable value.

Other accounting policies
Leasing and hire purchase commitments - Assets obtained under hire purchase contracts and finance lease are capitalized as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligation under such agreement are included in creditors net of the fiance charge allocated to future periods. The finance element of the rental payments is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Foreign currencies - Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting dates. Transactions in foreign currencies are recorded at the date of the transactions . All differences are taken to the profit and loss account.