1. Accounting policies

Basis of measurement and preparation of accounts

The accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards, the Companies Act 2006, and the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover policy

Turnover represents net invoiced sales of goods, excluding Value Added Tax.

Tangible fixed assets depreciation policy

Depreciation is provided, at the following annual rates in order to write off each asset over its estimated useful life: Office equipment 33% per annum on a straight line basis

Other accounting policies

Deferred taxation Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted. Foreign currencies Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating profit or loss for the period.

5. Tangible assets

6. Debtors

7. Creditors: amounts falling due within one year

8. Called up share capital

Allotted, called up and paid

10. Related party disclosures

Transactions with related parties During the year, loans of £35,925.00 were made to Venus Design Studios Limited. Venus Design Studios Limited is a related party by virtue of being controlled by Scott Eaton. Dividends paid to directors Ordinary dividends paid to directors in their capacity as shareholders during the year included £50,599 to Scott Eaton (2012 - £30,900) and £50,599 to Ann-Marie Eaton (2012 - £30,900). Controlling party The company is 50% owned by Scott Eaton and 50% owned by Ann-Marie Eaton who are also directors of the company. The company was under their control throughout the period.