1. Accounting policies

Basis of measurement and preparation of accounts

The financial statements are prepared under the historical cost convention and incorporate the results of the principal activity which is described in the directors' report and which is continuing.

Turnover policy

Turnover comprises the invoiced value of goods and services supplied by the company trade discounts.

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 or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Fixtures and Fittings - 15 % per annum of net book value Motor Vehicles - 25% per annum of net book value

Other accounting policies

Cashflow statement The Company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cashflow statement on the grounds that it is a small company. Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Debtors The Directors have decided that no provision is required for bad or doubtful debts. Deferred taxation Provision is made for taxation deferred as a result of material timing differences between the incidence of income and expenditure for taxation purposes, using the liability method, only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the near future.

5. Tangible assets

7. Creditors: amounts falling due within one year

9. Called up share capital

Allotted, called up and paid