Abbreviated Company Accounts - LAWNHOPPER (LIVERPOOL) 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 during the year, exclusive of Value Added Tax.
Revenue is measured at the fair value of the consideration received or receivable.
Revenue from services is recognised when the company's contractual obligations are preformed. The amount of revenue reflects the accrual of the right to consideration as contract activity progresses by reference to value of the work performed.

Tangible assets depreciation policy
Depreciation is calculated so at to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and Machinery - 25% reducing balance
Fixtures and Fittings - 25% reducing balance
Motor Vehicles - 25% reducing balance

Intangible assets amortisation policy
Amortisation 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:
Goodwill - 10% straight line basis

Other accounting policies
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.