1. Accounting policies

Basis of measurement and preparation of accounts

The financial statements have been 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 entries (effective April 2008).

Turnover policy

The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of value added tax.

Tangible fixed assets depreciation policy

The company will, after taking account of any grants receivable, apply depreciation to assets in future accounting periods at the following annual rates in order to write off each asset over it's estimated useful life:- 25% on the net book value.

Intangible fixed assets amortisation policy

Intangible fixed assets (including purchased good will and patents) are amortalised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Valuation information and policy

Stocks and work in progress at the value of the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

2. Tangible assets

3. Called up share capital

Allotted, called up and paid