Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:
Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from the provision of data processing services are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to costs incurred for work performed to date, against the total estimated contract costs.
Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.