1. Accounting policies

Basis of measurement and preparation of accounts

The financial statements are prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover policy

Turnover comprises of the invoiced value of goods services supplied by the company, net of the Value Added Tax and trade discounts.

Tangible fixed assets depreciation policy

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residua value over their expected useful lives on the following basis: Plant and Machinery 25% Reducing balance Fixtures and Fittings 25% Reducing balance No deprecation is provided on the company's freehold properties since in the opinion of the directors the expected useful lives are sufficiently long and the estimated residual values are sufficiently high that any such deprecation would be immaterial. The directors undertake an annual impairment review of these properties.

Valuation information and policy

The company's freehold properties were professionally valued in September 2010. The valuation has been reduced by subsequent depreciation. Under the transitional provisions of the Financial Reporting Standard for Smaller Entities (effective April 2008) the properties continue to be stated at that valuation less accumulated depreciation to date and that valuation has not been updated. Valuations are carried out when it is likely that there has been a material change in value.

4. Tangible assets

5. Creditors: amounts falling due within one year

6. Creditors: amounts falling due after more than one year

7. Called up share capital

Allotted, called up and paid