Abbreviated Company Accounts - RONJA NETWORKING 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 the invoiced value of services provided which were supplied in the year. Any invoiced sales for which the service is yet to be supplied are recorded as deferred income and are unwound as the services are provided.

Intangible assets amortisation policy
The assets in the accounts relate entirely to website development costs. Due to the technological nature of the asset it was determined by the director that the asset has a finite useful life. However, it's not possible to accurately determine what this useful life is. It was deemed appropriate to amortise the asset straight line over 5 years.

Other accounting policies
The company is reliant on the continuing financial support of the director. In the opinion of the director this support is going to be continuing for the foreseeable future and, as such, it is appropriate to prepare these financial statements on a going concern basis.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions:

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at balance sheet date.