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

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 or, if held under a finance lease, over the lease term, whichever is the shorter. Plant and Machinery - 25% on reducing balance.

Other accounting policies

Stocks - stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Deferred tax - Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Pension costs and other post-retirement benefits - The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate. Hire purchase and leasing commitments - assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

5. Tangible assets

6. Debtors

7. Creditors: amounts falling due within one year

8. Called up share capital

Allotted, called up and paid