1. Accounting policies

Basis of measurement and preparation of accounts

The Accounts have been prepared under the Historical Cost convention.

Turnover policy

Turnover represents the net amount of invoices to customers less credit notes, excluding VAT.

Tangible fixed assets depreciation policy

Depreciation is provided on assets over their useful lives. The following rates have been applied: Motor Vehicles 25% Furniture and Fittings 25% Office Equipment 25%

Intangible fixed assets amortisation policy

There are no intangible fixed assets.

Valuation information and policy

Work in Progress is valued at 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.

Other accounting policies

Taxation deferred or accelerated is accounted for in respect of all material timing differences to the extent it is probable a liability or asset will crystalise. Timing differences arise from the inclusion of items of income and expenditure in tax computations in years different from those in which they are included in the accounts. Provision is made at the rate which is expected to be applied when the liability or asset is expected to crystallise. Where this is not known the latest estimate of the long term tax rate applicable has been adopted.

2. Called up share capital

Allotted, called up and paid