1. Accounting policies

Basis of measurement and preparation of accounts

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The company has a £96,646 (2015 - £80,063) deficit on the balance sheet and made a £16,583 (2014 - £23,303) loss this year. However the long term funding for the company is by way of a director’s loan account. The director has made a commitment not to seek repayment of the loan within the foreseeable future. The director is confident that the company will trade out of its current difficulties.

Turnover policy

Turnover represents the invoiced amounts of goods and services supplied during the year, net of value added tax.

Tangible fixed assets depreciation policy

Depreciation on fixed Assets is provided at rates estimated to write off the cost, less estimated residual value, of each asset over its expected useful life on a reducing balance basis at the following rates:- Furniture & Fittings - 10% Plant and Machinery - 15% Office Equipment - 15%

Other accounting policies

Deferred Taxation The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However deferred tax assets are recognised only to the extent that the Directors consider that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.

3. Tangible assets

4. Debtors

5. Creditors: amounts falling due within one year

Included in Other Creditors is £120,845 (2014 £106,964) owed to S A Short the Director of the Company.

6. Called up share capital

Allotted, called up and paid

8 . Transactions with directors