1. Accounting policies

Basis of measurement and preparation of accounts

The financial statements have been prepared under the historical cost convention, as modified by the revaluation of properties, and are in accordance with applicable accounting standards. No cashflow statement has been prepared as T C Ford (Properties) Limited fulfils the requirements of a small company as defined by the Companies Act 2006.

Turnover policy

Turnover represents gross rents receivable and fees rendered for consultancy services provided during the period. All turnover arises within the United Kingdom.

Tangible fixed assets depreciation policy

Depreciation is provided to write off the cost, less estimated residual values, of all fixed assets, except investment properties, over their expected useful lives. It is calculated on fixtures, fittings and equipment at 15% per annum on the reducing balance basis and on office and computer equipment at 33.33% on the straight line basis. No depreciation or amortisation is provided in respect of freehold investment properties and leasehold investment properties with over 20 years to expiry. This treatment is a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. These properties are held for investment and the directors consider that systematic annual depreciation is inappropriate. The accounting policy adopted is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of the factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be sep

Valuation information and policy

The investment properties are included in the balance sheet at their open market valuations and no depreciation is provided. In accordance with Statement of Standard Accounting Practice No. 19 they are considered for revaluation annually with any surpluses or temporary deficits arising, being transferred to an investment revaluation reserve. Any permanent diminutions in value would be taken to the profit and loss account.

Other accounting policies

Deferred Tax Provision is made for significant timing differences between the treatment of certain items for taxation and accounting purposes, to the extent that it is probable that a liability or asset will crystallise. No provision is made for deferred taxation attributable to the unrealised surpluses on revaluation of investment properties, as the directors consider such are unlikely to be sold in the foreseeable future.

5. Tangible assets

6. Debtors

7. Creditors: amounts falling due within one year

9. Called up share capital

Allotted, called up and paid