Abbreviated Company Accounts - ROBYDOME LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
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).

Turnover policy
The turnover shown in the profit and loss account represents the amount of goods and services provided during the year, exclusive of Value Added Tax.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Freehold Property - 2% straight line
Plant & Machinery - 25% reducing balance
Motor Vehicles - 25% reducing balance
Computer Equipment - 25% reducing balance

Intangible assets amortisation policy
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Patents & Licences - 20% reducing balance

Other accounting policies
All fixed assets are initially recorded at cost.

Investment properties

Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

This is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Deferred taxation

Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Included in creditors is an amount due from the company to T W Neat of £333 (2015 - £4,826 due to the company) The maximum amount overdrawn during the year was £4,826.

Ultimate parent company

The directors consider the ultimate parent company to be Techneat Engineering Limited, a company incorporated in England.

Post balance sheet events

On 11 May 2017, Robydome Holdings Limited acquired all of the shares in Robydome Limited.

Transactions with the directors

Included in debtors is an amount due to the company from G Milner of £5,431 (2015 - £181). The maximum amount overdrawn during the year was £5,431.