1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention.

The company is reliant upon the support of ACS Holdings Limited, its parent company, for its day to day working capital requirements. The directors consider that this support will continue and therefore the directors consider it appropriate to prepare the financial statements on a going concern basis.

The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Turnover policy
Turnover represents the amount derived from the provision of services falling within the company's activities after the deduction of trade discounts and value added tax. Turnover is recognised when the services are physically received by the customer.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciated 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 - 2% straight line
Computer equipment - 33% straight line
Fixtures, fittings & equipment - 15% reducing balance
Motor vehicles - 25% straight line

Other accounting policies
Deferred tax

Deferred tax is provided in full in respect of taxation deferred by timing differences using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.

3Fixed assets Investments
Fixed asset investments are stated at cost less provision for diminution in value.