Contents of the Financial Statements

for the Period Ended 30 November 2018

Balance sheet

As at 30 November 2018

The notes form part of these financial statements

Balance sheet statements

For the year ending 30 November 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 30 November 2018

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.Revenue from the sale of goods and software is recognised when the significant risks and rewards of ownership have passed to the buyer (usually on dispatch), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.Revenue from support contracts is recognised over the period against which the support is provided.

  Tangible fixed assets depreciation policy

  Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:Land and freehold buildings - Straight line over 20 yearsFixtures, fittings and equipment - Straight line over 5 yearsMotor vehicles - Straight line over 4 yearsThe gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

  Intangible fixed assets amortisation policy

  Intangible assets comprise software development costs attributable to specific software projects the company develops for resale. Such assets are defined as having finite useful lives and are amortised on a straight line basis over the period in which the completed software will generate revenue. Intangible assets are stated at cost less amortisation and are reviewed for impairment whenever there is an indication that the carrying value may be impaired.Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:Development costs - Straight line over 1 - 5 years

  Other accounting policies

  Accounting conventionBusiness combinationsGoing concernResearch and development expenditureFixed asset investmentsImpairment of fixed assetsStocksCash at bank and in handFinancial instrumentsEquity instrumentsTaxationEmployee benefitsRetirement benefitsLeasesForeign exchange

Notes to the Financial Statements

for the Period Ended 30 November 2018

• 2. Employees

  	2018	2017
  Average number of employees during the period	171	130