Contents of the Financial Statements

for the Period Ended 31 December 2018

Balance sheet

As at 31 December 2018

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 December 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 31 December 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 measured at the fair value of the consideration received or receivable, net ofdiscounts and value added taxes. Turnover includes revenue earned from the sale of goods andfrom the rendering of services. Turnover from the sale of goods is recognised when thesignificant risks and rewards of ownership of the goods have transferred to the buyer. Turnoverfrom the rendering of services is recognised by reference to the stage of completion of thecontract. The stage of completion of a contract is measured by comparing the costs incurred forwork performed to date to the total estimated contract costs.

  Tangible fixed assets depreciation policy

  Tangible fixed assets are measured at cost less accumulative depreciation and any accumulativeimpairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land,at rates calculated to write off the cost, less estimated residual value, of each asset evenly overits expected useful life, as follows:Leasehold improvements 20% straight linePlant and machinery 20% or 25% straight lineOffice and computer equipment 33.33% straight line

  Intangible fixed assets amortisation policy

  Intangible fixed assets are measured at cost less accumulative amortisation and anyaccumulative impairment losses.

  Other accounting policies

  Foreign currency transactionsTransactions in foreign currencies are initially recognised at the rate of exchange ruling at thedate of the transaction. At the end of each reporting period foreign currency monetary items aretranslated at the closing rate of exchange. Non-monetary items that are measured at historicalcost are translated at the rate ruling at the date of the transaction. All differences are charged toprofit or loss.Leased assetsA lease is classified as a finance lease if it transfers substantially all the risks and rewardsincidental to ownership. All other leases are classified as operating leases. The rights of use andobligations under finance leases are initially recognised as assets and liabilities at amounts equalto the fair value of the leased assets or, if lower, the present value of the minimum leasepayments. Minimum lease payments are apportioned between the finance charge and thereduction in the outstanding liability using the effective interest rate method. The finance chargeis allocated to each period during the lease so as to produce a constant periodic rate of intereston the remaining balance of the liability. Leased assets are depreciated in accordance with thecompany's policy for tangible fixed assets. If there is no reasonable certainty that ownership willbe obtained at the end of the lease term, the asset is depreciated over the lower of the lease termand its useful life. Operating lease payments are recognised as an expense on a straight linebasis over the lease term.PensionsContributions to defined contribution plans are expensed in the period to which they relate.Comparative figuresThe comparative figures cover the 15 month period 1 October 2016 to 31 December 2017.

Notes to the Financial Statements

for the Period Ended 31 December 2018

• 2. Employees

  	2018	15 months to 31 December 2017
  Average number of employees during the period	6	4