1. Accounting policies

Basis of measurement and preparation of accounts

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) (the “FRSSE”).

Turnover policy

Turnover comprises the invoiced value of goods and services supplied by the company, exclusive of Value Added Tax and trade discounts and adjusted for the movements in work in progress and accrued income.

Tangible fixed assets depreciation policy

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected lives on the following bases: Plant and machinery, etc. 33.3% straight line

Valuation information and policy

Stocks, work in progress and accrued income Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Accrued income is stated at selling price and is included in debtors.

Other accounting policies

Deferred taxation The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing differences are expected to reverse, based upon the tax rates and laws that have been enacted by the balance sheet date.

6. Tangible assets

7. Debtors

The debtors are all due within one year.

8. Creditors: amounts falling due within one year

None of the creditors is secured.

10. Called up share capital

Allotted, called up and paid

12. Related party disclosures