1. Accounting policies

Basis of measurement and preparation of accounts

The accounts have been prepared under the historic cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover policy

Turnover represents net sales of goods and services to external customers during the year excluding Value Added Tax.

Tangible fixed assets depreciation policy

Depreciation is calculated to write off the cost of assets, less any estimated residual value, over their useful economical life at rates between 12.5% and 33% per annum on a straight line basis.

Intangible fixed assets amortisation policy

Amortisation is calculated so as to write off the cost of the asset, less any appropriate residual value, over the useful economic life of that asset at 12.5% per annum on a straight line basis.

Other accounting policies

Operating lease rentals where substantially all the benefits and risks of ownership remain with the lessor are charged against profit over the period of the lease. Deferred Taxation is recognised in respect of all timing differences that have originated but not reversed at the Balance Sheet date where transactions or events have occurred on or before that date that will result in an obligation to pay or a right to receive tax on reversal on an undiscounted basis at the rate of Corporation Tax applicable to the Company at the year-end.

2 . Operating profit or (loss)

Operating profit or (loss) before tax as stated after charging the following.

3 . Directors' remuneration

4. Taxation

The tax charge for the year has been calculated using the Corporation Tax rates of 21% and 20%. Any other adjustments consist of the difference between the above tax rates and the Small Profits rate which applies to the Company.

5. Dividends

A dividend of £300 per ordinary share in respect of the results for the year payable on 24th December 2015 to shareholders on the register at that date.

6. Tangible assets

7. Stocks

Stocks are valued at the lower of cost of net realisable value.

8. Debtors

9. Creditors: amounts falling due within one year

Other creditors represent proposed dividends due for payment on 24th December 2015. The previous year's figure included loan balances of £26,000 in addition to dividends of £7,000.

10. Operating lease commitments

The lease current at the Balance Sheet date expires on 31st October 2015. This has subsequently been extended.

11. Provisions for liabilities

This represents deferred tax sums due at a future date arising from accelerated capital allowances.

12. Called up share capital

Allotted, called up and paid

13. Profit and loss account