1. Accounting policies

Basis of measurement and preparation of accounts

The financial statements have been prepared under 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 ids provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life: Computer Equipment 18% Reducing Balance Method Fixtures and Fittings 18% Reducing Balance Method

Intangible fixed assets amortisation policy

Intangible fixed assets (including purchased goodwill and patents) are amortized at rates calculated to write off the asset on a straight basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Valuation information and policy

Stock and work-in-progress are valued at the lower of cost and net realizable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

2. Tangible assets

3. Called up share capital

Allotted, called up and paid