Abbreviated Company Accounts - AEROSTAT SURVEYS 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 comprises the invoiced value of services supplied by the company, net of Value Added Tax and trade discounts.

Tangible assets depreciation policy
Tangible Assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Buildings 10.0% straight line.
Equipment 20.0% straight line.

Other accounting policies
Stocks and Work in Progress
These are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. Deferred taxation is measured on a non discounted at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law or substantively enacted at the balance sheet date.