Contents of the Financial Statements

for the Period Ended 31 August 2020

Profit And Loss Account

for the Period Ended 31 August 2020

Balance sheet

As at 31 August 2020

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 August 2020 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 notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 August 2020

• 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:machinery15% reducing balance basis

  Valuation information and policy

  Stocks are measured at the lower of cost and estimated selling price less costs to complete andsell. Cost is determined using the first in first out method. The carrying amount of stock sold isrecognised as an expense in the period in which the related revenue is recognised

  Other accounting policies

  DebtorsShort term debtors are measured at transaction price (which is usually the invoice price), less anyimpairment losses for bad and doubtful debts. Loans and other financial assets are initiallyrecognised at transaction price including any transaction costs and subsequently measured atamortised cost determined using the effective interest method, less any impairment losses forbad and doubtful debts.CreditorsShort term creditors are measured at transaction price (which is usually the invoice price). Loansand other financial liabilities are initially recognised at transaction price net of any transactioncosts and subsequently measured at amortised cost determined using the effective interest

Notes to the Financial Statements

for the Period Ended 31 August 2020

• 2. Employees

  	2020	13 months to 31 August 2019
  Average number of employees during the period	6	1