1. Accounting policies

Basis of measurement and preparation of accounts

The Financial Statements have been prepared under the historical cost convention and comply with the accounting standards issued by the Financial Reporting Standard for Smaller Entities (effective 2008) The financial statements contain information about Reassurance Security Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 402 and 405 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover policy

Turnover represents net sales to customers and excludes Value Added Tax.

Tangible fixed assets depreciation policy

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is calculated in order to write off the cost of tangible fixed assets over their estimated useful lives as follows: 20% reducing balance Machinery and equipment (including motor vehicles) IT/Office Equipment Impairment reviews are carried out where there are events or changes in circumstances that indicate that the carrying amount of the fixed asset or goodwill may not be recoverable. Where there is an impairment loss it is recognised in the profit and loss account (There is no policy of revaluing fixed assets).

Intangible fixed assets amortisation policy

Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstance indicate that the carrying value of an asset may not be fully recoverable.

Valuation information and policy

Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Other accounting policies

The profit reserves demonstrate that the Company has sufficient finance facilities available to allow it to continue in business for a period of at least twelve months from the date of approval of these financial statements. Accordingly, the financial statements have been prepared on a going concern basis.

2. Tangible assets

Included in machinery & equipment is £44,930 in respect of assets held under finance lease and depreciation on that asset amounted to £8,986.

3. Debtors

Debtors include an amount of £ 7,436 (2014 - £ 5,000 ) owed by subsidiary undertakings.

4. Called up share capital

Allotted, called up and paid

6. Related party disclosures

During the year the Company loan £7,436 (2014: £5,000) to Reassurance Resource Management Limited (RRML), wholly owned subsidiary to fund its working capital. During the year, total dividends of £52,664 were paid to the directors .