1. Accounting policies

Basis of measurement and preparation of accounts

The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards.

Turnover policy

The turnover shown in the profit and loss account represents total sales revenue during the period, exclusive of Value Added Tax.

Tangible fixed assets depreciation policy

Depreciation is calculated so as to write off the cost of an asset over the useful economic life of that asset as follows: Leasehold Property - 10% Straight Line Fixtures & Fittings - 15% Straight Line Studio Equipment - 33.3% Straight Line Office Equipment - 33.3% Straight Line Motor Vehicle - 25% Straight Line

Other accounting policies

Deferred Taxation. In accordance with Financial Reporting Standard 19 the charge for tax takes into account tax deferred or accelerated because of timing differences between the treatment of certain items for accounting and taxation purposes. Deferred tax liabilities and recoverable deferred tax assets are recognised in respect of timing differences under the liability. No provision is made for deferred tax liabilities arising in respect of timing differences on the revaluation of non-monetary assets such as equity investments or properties, unless there is a binding agreement to sell the assets.

5. Tangible assets

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

Other creditors comprises wholly of loans the directors have introduced. There is no interest payable and the amounts are repayable as and when the funds become available.

7. Called up share capital

Allotted, called up and paid