Abbreviated Company Accounts - HOLLAND HYDROPONICS LTD

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 represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Computer equipment 33.33% on straight line
Fixtures, fittings & equipment 15% reducing balance
Motor vehicles 20% reducing balance

Intangible assets amortisation policy
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

Valuation information and policy
Stock is valued at the lower of cost and net realisable value.

Other accounting policies
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting
Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied
consistently (except as otherwise stated).