Contents of the Financial Statements

for the Period Ended 31 March 2017

Company Information

for the Period Ended 31 March 2017

Balance sheet

As at 31 March 2017

The notes form part of these financial statements

Balance sheet continued

As at 31 March 2017

For the year ending 31 March 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 March 2017

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

  Intangible fixed assets amortisation policy

  Intangible fixed assets consist of trademark registrations, registered designs and patents.
  
  Trademark registrations, registered designs and patents are capitalised at the cost of registration. Once the application has been accepted the initial and renewal costs of these intangible assets are then amortised on a straight line basis over the period granted or over the expected useful life of the product, whichever is the shorter.
  
  Trademark registrations have an indefinite life and a renewal period of 10 years. Registration designs have a life of 10 to 50 years and a renewal period of 0 to 25 years. Patents have a life of 14 to 20 years and a renewal period of 0 to 4 years.
  

  Other accounting policies

  Leasing and hire purchase commitments Assets acquired under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. Rentals payable under operating leases are charged against income on a straight line basis over the lease term. Stock Stock and work in progress are valued at the lower of cost and net realisable value. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Pensions The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable. Foreign currency translation Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates 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 differences are taken to profit and loss account. Group Accounts The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

Notes to the Financial Statements

for the Period Ended 31 March 2017

2. Dividends

Notes to the Financial Statements

for the Period Ended 31 March 2017

Notes to the Financial Statements

for the Period Ended 31 March 2017

4. Tangible Assets

Notes to the Financial Statements

for the Period Ended 31 March 2017

5. Revaluation reserve