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 m accordance with the Financial Reporting Standard for Smaller Entities (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

Depreciation is provided, after taking in account of any grants receivable at the following annual rates in order to write off each asset over its estimated useful life Plant and Machinery- 15% on cost, Fixtures and fittings- I0% on cost

Intangible fixed assets amortisation policy

Intangible fixed assets have been amortised at rates calculated to write off the assets on a straight basis over the estimated useful economic lives. The intangible assets were fully ammortised in 2012.

Valuation information and policy

Stocks and work -in-progress are 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.

2. Tangible assets

3. Called up share capital

Allotted, called up and paid