Abbreviated Company Accounts - HARRIS PROPERTIES (MANCHESTER) LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover policy
Turnover represents net invoiced sales of services, excluding VAT.

Tangible assets depreciation policy
Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life:

Plant, machinery, fixtures and fittings - 15% on cost
Office Equipment - 15% on cost
Computer Equipment - 33% on cost

Valuation information and policy
Investment properties were revalued during the year on the basis of open market value. Any surplus or deficit is credited or charged to a revaluation reserve. The Directors consider this departure necessary to show a true and fair view.

Other accounting policies
Provision is made at current rates for taxation deferred in respect of all material timing differences except to the extent that, in the opinion of the directors, there is reasonable probability that the liability will not arise in the foreseeable future.