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:
Computer consultancy fees
When the outcome of a transaction can be estimated reliably, turnover from computer consultancy fees is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the date the services were performed.
Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.
Interest receivable
Interest income is recognised using the effective interest method.