Abbreviated Company Accounts - SELGOVIA LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets 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 revenue recognised by the company in respect of goods and services supplied during the period, exclusive of
Value Added Tax and trade discounts.

Tangible assets depreciation policy
Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. Freehold
buildings - 2% on cost or revalued amounts, Plant and Machinery - 25% on cost, Fixtures and fittings - 10% on cost, computer and office equipment -25% on cost, and
Motor vehicles - 25% on cost.

Intangible 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 circumstances 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their
estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of
these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under
operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. Research and Development Expenditure on research and
development. is written off in the year in which it is incurred.

Company assets consist of a single commercial vehicle and office related equipment.

No new shares were issued during the reporting period.