Abbreviated Company Accounts - C.C. WILLIAMS LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts are prepared under the historical cost convention modified to include the revaluation of certain fixed assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents the total invoice value, excluding value added tax, or rents received during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost or valuation less residual value of each asset over its expected useful life, as follows:

Land and buildings - Investment property not depreciated
Plant and machinery - 15% reducing balance

Other accounting policies
Investment Property
Investment properties are included in the balance sheet at their open market value. The surplus or deficit on revaluation is transferred to the property revaluation reserve. Depreciation is not provided in respect of freehold investment properties.


Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

3Fixed assets Investments
The company holds 20% or more of the issued share capital of Clinisystems Limited, a dormant company registered in England and Wales. The capital and reserves of Clinisystems Limited at 31st March 2016 was £100.