1Accounting 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 Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of services falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over ots estimated useful life.

Fixtures, fittings and equipment - 25% reducing balance

Other accounting policies
Investment properties - In accordance with the Financial Reporting Standard for Smaller Entities, no depreciation has been provided in respect of freehold investment properties. This departure from the requirements of the Companies Act 2006 for all properties to be depreciated is, in the opinion of the directors, necessary for the financial statements to give a true and fair view in accordance with applicable accounting standards as fixed asset properties are included in the financial statements at open market value.

Deferred tax - Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Foreign currencies - Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the Profit and Loss account.

3Fixed assets Investments
In accordance with the Financial Reporting Standard for Smaller Entities, no depreciation has been provided in respect of freehold investment properties. This departure from the requirements of the Companies Act 2006 for all properties to be depreciated is, in the opinion of the directors, necessary for the financial statements to give a true and fair view in accordance with applicable accounting standards as fixed asset properties are included in the financial statements at open market value.