1. Accounting policies

Basis of measurement and preparation of accounts

The accounts were prepared on a historical cost basis and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover policy

Turnover represents fees received and receivable for the financial year, excluding Value Added Tax.

Tangible fixed assets depreciation policy

Tangible fixed assets are depreciated on a straight line basis at the following rates: Office equipment and furniture - 25% Website development costs - 20% The above rates are calculated on an annual basis, so as to write off the cost of the assets, less their expected residual value, over their estimated period of economic use. Assets no longer used are written off in the year in which they cease to have any economic value. Fixed assets are stated at their cost values less accumulated depreciation and any amounts written off in respect of diminutions in value.

Intangible fixed assets amortisation policy

Goodwill purchased and arising on acquisitions is capitalised and classified as an intangible asset. It is amortised on a straight line basis over its estimated useful life at an annual rate of 12.5% per annum, as it is not considered possible to accurately estimate the economic value of goodwill after 8 years. All goodwill capitalised in the accounts is reviewed for impairment at the end of the first full financial year following each acquisition and subsequently as and when necessary if circumstances emerge indicating that the carrying value may not be recoverable.

Valuation information and policy

Work-in-progress consists of fees earned but not yet invoiced in respect of services provided under contracts not yet complete as at the balance sheet date. It includes the current realisable value on ongoing contracts purchased on incorporation. Ongoing contracts represents profits that the company expects to derive from future fees in respect of economic relationships in existence at the balance sheet date that were purchased on incorporation and formed part of the total consideration paid for the business. The value of ongoing contracts is written down as and when the fees of which they consist are earned. Those fees no longer regarded as realisable are written off to the profit and loss account immediately.

Other accounting policies

The charge for taxation is based upon the profit for the year and the current rate of UK corporation tax. Deferred tax is recognised on timing differences that have have originated and not reversed at the balance sheet date where such items are material and are considered likely to crystallise. In such cases, deferred tax is calculated on a non-discounted basis according to the tax rates that can be expected to apply when the timing differences reverse, based on laws enacted or substantively enacted at the balance sheet date.

6. Intangible assets

7. Tangible assets

Plant & machinery comprise website costs

9. Debtors

Not reportable

10. Creditors: amounts falling due within one year

Not reportable

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

Not reportable

12. Called up share capital

Allotted, called up and paid

14. Related party disclosures

Mr Christopher Ames is married to Mrs Caroline Ames who is thus a related party. The company maintains a loan account with Mrs Ames in respect of salary, dividends, expenses and other transactions. As at 30th April 2014, the company owed Mrs Ames the sum of £21,997 (2013: £46,817) on this account. The loan is repayable to Mrs Ames on demand, subject to the cashflow requirements of the company, but no repayment date has been specified. During the financial year, Mrs Ames earned interest of £3,632 (2013: £4,918) from the company on the loan, which was calculated at an annual rate of 10%. Mrs Ames received dividends of £24,864 (2013: £10,350) from the company during the financial year.

15 . Transactions with directors

Not reportable