1. Accounting policies

Basis of measurement and preparation of accounts

The financial statements have been prepared unde r 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 revenue earned during the period, exclusive of VAT

Tangible fixed assets depreciation policy

Depreciation is provided, after taki ng account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. Freehold buildings – 2% on cost or revalued amounts Plant and machinery – 15% on cost Fixtures and fittings – 10% on cost Motor vehicles – 25% on cost No depreciation is provided on freehold land

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 est imated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstance indicate that the carrying value of an asset may not be fully recoverable.

2. Called up share capital

Allotted, called up and paid