Abbreviated Company Accounts - PRIMLEY PARK CHILDREN'S NURSERIES 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 January 2015.

Turnover policy
Turnover represents amounts receivable for goods and services net of trade discounts.

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

Land and Buildings Leasehold - 10% straight line
Computer Equipment - 25% straight line
Fixtures, Fittings & Equipment - 15% reducing balance

Intangible assets amortisation policy
Goodwill.

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

Other accounting policies
Employee Benefit Trust.

The Company has created a trust whose beneficiaries will include employees of the Company and their dependants. Assets held under this trust will be controlled by trustees who will be acting independently and entirely at their own discretion.

Where assets are held in the trust and these are considered by the Company to be in respect of services already provided by employees to the Company, the Company will account for these as assets of the trust when payment is made to the trust. The value transferred will be charged in the Company's profit and loss account for the year to which it relates.