1. Accounting policies

Basis of measurement and preparation of accounts

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008)

Turnover policy

The turnover shown in the Profit and Loss account represents amounts invoiced during the year. Exclusive of Value Added Tax.

Tangible fixed assets depreciation policy

depreciation is provided, after taking 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 20% Reducing Balance Fixtures and fittings 20% Reducing Balance Motor vehicles 20% Reducing Balance Freehold land nil

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. 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

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.

Other accounting policies

Assets obtained under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to profit and loss account over the period of a lease at a constant proportion of the outstanding balance of capital repayments.

2. Called up share capital

Allotted, called up and paid