Abbreviated Company Accounts - FILBERTS BEES 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 chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tangible assets depreciation policy
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Land and buildings - Not depreciated
Production and field equipment (incl hives) - 15% reducing balance
Quad - 25% reducing balance subject to a 25% residual value
Bus and awning - 10% reducing balance
Office equipment - 25% reducing balance

Valuation information and policy
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Other accounting policies
The financial statements have been prepared on a going concern basis as the directors will continue to support the company to ensure it can meet it's debts as they fall due and confirms non repayment of their loans within the twelve month period from the date of signing the accounts.