Abbreviated Company Accounts - STEPS RESIDENTIAL CARE 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 represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets, other than freehold land, 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:
Freehold Land and buildings No depreciation
Plant and machinery 20% Reducing balance
Fixtures, fittings & equipment 25% Reducing balance
Motor vehicles 25% Reducing balance

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

Other accounting policies
Deferred taxation
Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.