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 the provisions applicable to companies subject to the small companies regime.

Turnover policy

Turnover comprises revenue recognized by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts.

Tangible fixed assets depreciation policy

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Office Equipment – 25% reducing balance

Other accounting policies

Full Provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation. A net deferred tax asset is recognised only if it can be regarded as more likely then not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse. Deferred tax assets and liabilities are not discounted.

4. Tangible assets

5. Creditors: amounts falling due within one year

7. Called up share capital

Allotted, called up and paid

9. Related party disclosures

At the period end, the following balance was owed by the company to its director in respect of an interest-free unsecured loan.