1. Accounting policies

Basis of measurement and preparation of accounts

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover policy

Turnover represents the invoiced value of goods, excluding value added tax.

Tangible fixed assets depreciation policy

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Office equipment 25% reducing balance basis Motor vehicles 15% reducing balance basis Plant and machinery 25% reducing balance basis Leasehold improvements over 10 years

Intangible fixed assets amortisation policy

Goodwill being the amount paid in connection with the acquisition of a business in 2006 is being written off evenly over its estimated useful life of twenty years.

Other accounting policies

Leasing and hire purchase contracts Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred. 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.

5. Intangible assets

6. Tangible assets

8. Debtors

All debtors are due within one year.

9. Creditors: amounts falling due within one year

There are no secured creditors nor are there any creditors due after more than five years.

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

There are no secured creditors nor are there any creditors due after more than five years.

11. Called up share capital

Allotted, called up and paid

13. Related party disclosures

At the year end the directors had a credit loan balance with the company of £168,529. (2013: £180,994). The company operates from a property owned by the directors. During the year the company was charged rent of £12,291 on normal commercial terms.