Abbreviated Company Accounts - PESTCONTROL.CO.UK (TW) 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
The turnover shown in the profit and loss account represents amounts invoiced in respect of services provided during the year exclusive of Value Added Tax

Tangible assets depreciation policy
Fixed Assets
All fixed assets are initially recorded at cost. Any items below a value of £250 are not capitalised but written off to the Profit and Loss account.
Depreciation
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
Equipment 20% straight line

Intangible assets amortisation policy
Franchise Cost
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the economic life of that asset as follows
Franchise Cost 20% straight line

Other accounting policies
Finance lease agreements
Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated in accordance with the above depreciation policies. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between finance element, which is charged to the profit and loss account on a straight line basis, and the capital element which reduces the outstanding obligation for future instalments.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Allotted, called up and fully paid