THE ALEXANDER BEARD GROUP PLC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2012
1.
ACCOUNTING POLICIES (continued)
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1.8 Deferred taxation
Full provision is made for deferred tax assets and liabilities arising from all timing differences
between the recognition of gains and losses in the financial statements and recognition in the tax
computation.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets in the
financial statements.
A net deferred tax asset is recognised only if it can be regarded as more likely than not that there
will be suitable taxable profits from which the future reversal of the underlying timing differences can
be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time
the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
1.9 Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at 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 gains and losses are recognised in the Profit and loss account.
1.10 Pensions
The company operates a defined contribution pension scheme and the pension charge represents
the amounts payable by the company to the fund in respect of the year.
2.
TURNOVER
The whole of the turnover is attributable to the one principal activity of the group.
All turnover arose within the United Kingdom.
3.
OTHER OPERATING INCOME
2012
2011
£
£
Other operating income
-
4,021
Management fees
70,000
-
70,000
4,021
1...,8,9,10,11,12,13,14,15,16,17 19,20,21,22,23,24,25,26,27,28,...35