1. Accounting policies

Basis of measurement and preparation of accounts

Accounting convention The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2005). Compliance with accounting standards The financial statements are prepared in accordance with applicable United Kingdon Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Turnover policy

Turnover represents amounts receivable for services provided.

Tangible fixed assets depreciation policy

Tangible fixed assets and depreciation Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows: Land and buildings Freehold Nil Depreciation - the directors consider that, for the foreseeable future, the estimated residual value of the buildings will not be less than the book value shown in the accounts and a depreciation rate of 0% is therefore appropriate. Plant & machinery 15% Straight line Fixtures, fittings & equipment 25% Straight line except computers 33.3% straight line. Motor Vehicles 25% Reducing Balance

2. Tangible assets

3. Called up share capital

Allotted, called up and paid