Abbreviated Company Accounts - CCDFILMS 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 comprises the invoiced Fees and expenses receivable net of Flat Rate Value Added Tax paid.

Tangible assets depreciation policy
Tangible assets are stated at cost. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their residual value, over their respective useful lives as follows :

Computer & Office Equipment 2 year straight line basis
Furniture, Fixtures & Fittings 3 year straight line basis

Other accounting policies
Foreign Currencies : Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit

Deferred Taxation: Provision is made for taxation deferred as a result of material timing differences between the incidence of income and expenditure for taxation in the accounts. Provision is made in respect of timing differences that have originated but not reversed at the Balance Sheet Date.