| 1. |
Accounting Policies
Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Dividends
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Computer Equipment |
25% Reducing Balance
|
| Fixtures and Fittings |
25% Reducing Balance
|
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Tangible fixed assets
| Cost or Valuation |
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 December 2015 |
30,883 |
|
8,623 |
|
39,506 |
| Additions |
2,508 |
|
7,992 |
|
10,500 |
| Disposals |
- |
|
- |
|
- |
| At 30 November 2016 |
33,391 |
|
16,615 |
|
50,006 |
| Depreciation |
| At 01 December 2015 |
7,943 |
|
3,380 |
|
11,323 |
| Charge for year |
5,735 |
|
3,308 |
|
9,043 |
| On disposals |
- |
|
- |
|
- |
| At 30 November 2016 |
13,678 |
|
6,688 |
|
20,366 |
| Net book values |
| At 30 November 2016 |
19,713 |
|
9,927 |
|
29,640 |
| At 30 November 2015 |
22,940 |
|
5,243 |
|
28,183 |
|
| 3. |
Share Capital
Authorised
1,000 Class A shares of £1.00 each
Allotted
|
2016
£ |
|
2015
£ |
|
1,000
Class A shares of £1.00 each |
1,000 |
|
1,000 |
|
1,000 |
|
1,000 |
|
2
|
