1. Accounting policies

Basis of measurement and preparation of accounts

These accounts have been prepared under the historical cost convention and in accordance with the provisions applicable to companies subject to the small companies regime.

Turnover policy

The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of VAT.

Tangible fixed assets depreciation policy

Depreciation has been provided at the annual rate of 25% in order to write off the assets over their estimated useful lives.

Intangible fixed assets amortisation policy

Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Valuation information and policy

Stock is valued at the lower of cost and net realisable value.

2. Called up share capital

Allotted, called up and paid