1. Accounting policies

Basis of measurement and preparation of accounts

The Accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Small Entities (Effective April 2008).

Turnover policy

The turnover shown in the profit and loss account represents amounts invoiced in respect of goods and services provided during the year, exclusive

Tangible fixed assets depreciation policy

Depreciation is provided to write off the cost of each asset over its expected useful life by annual instalment. The rates of depreciation are as follows: -
• Office Equipment 25% per annum
• Computers 50% for first year and 25% per annum from 2nd and following years

Intangible fixed assets amortisation policy

Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets 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

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 expenditure and an appropriate proportion of fixed and variable overheads.

Other accounting policies

The Company satisfies the requirements of a small company under S.246 - S.249 of the Companies Act 1985 and has taken advantage of the exemption detailed paragraph 8 of FRS1 in not preparing a cash flow statement.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. Research and Development Expenditure on research and development is written off in the year in which it is incurred.

2. Turnover

The turnover and profit before taxation are wholly attributable to the principal activity of the Company and arose wholly within the United Kingdom.

3. Directors' remuneration

No payment was made to Directors during this financial year.

4. Employees

5. Operating profit or (loss)

Operating profit or (loss) before tax as stated after charging the following.

6. Tangible assets

7. Creditors: amounts falling due within one year

8. Creditors: amounts falling due after more than one year

9. Borrowings

10. Operating lease commitments

Assets obtained under hire purchase contracts or finance leases are capitalized in the balance sheet. These held under hire purchase contracts are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

11. Called up share capital

Allotted, called up and paid

12. Profit and loss account

13. Capital commitments

There are no capital commitments

14. Contingent liabilities

No provision has been made to these accounts for pay the Bank overdraft and the loan owned to the Director.

15. Post balance sheet events

None