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
Long Term contracts is defined as those contracts which are not completed within one accounting year and is such that the contract activity falls into different account periods. Some contracts with shorter duration than one year are accounted for as long term contracts where it is considered that the inclusion of turnover and attributable profit in this accounting year would distort the results in the financial statements and would not give a true and fair view. This policy is applied consistently in each of the current and future accounting years
Turnover relates to Long term contracts assessed on a contract by contract basis and reflected in the Profit and Loss account by recording income on completed projects as turnover and related costs as direct cost of sales. Turnover is ascertained in a manner appropriate to the stage of the completion of the contract, the business and the industry in which it operates. Prudently calculated profit is recognised in the Profit and Loss account as the difference between the reported turnover and related costs.
Where the outcome of Long Term Contracts cannot be assessed with reasonable certainty before the conclusion of the contract in each accounting year no profit is reflected in the Profit and Loss account in respect of those contracts.
At the end of each accounting year where profit cannot be ascertained with substantial accuracy and it is considered prudent not to recognise profit during the year, payments received on account of turnover is classified as creditors for payments on account of work-in-progress
Recoverable costs incurred on long term contracts not completed at the end of the accounting year are classified as amounts recoverable on contracts and separately disclosed within debtors. Rental income is derived from letting of investment properties owned by the company

Tangible assets depreciation policy
No depreciation is provided on freehold land and leasehold premises when the unexpired term of the lease exceeds twenty years.

Furniture, fixtures and fittings are depreciated at a rate of 25% of the written down value of these assets over their expected useful life.

Valuation information and policy
The investment properties held at 31 July 2016 were stated at Director's market valuation.

Other accounting policies
GOING CONCERN

The balance sheet at 31 July 2016 discloses a total net asset of £413,156 after revaluation (2015 - net asset of £560,998 after revaluation). The accounts have been prepared on a going concern basis placing reliance on the continued support and funding by the directors and it's shareholders.

The open market value of the freehold property based on valuations carried out by the directors is estimated to amount to £525,000 (2015- £695,000 ) and therefore an adjustment has been made to reflect the unrealised revaluation profit of £214,387 (2015 - £384,387) in these accounts at 31 July 2016. The leasehold premises was revalued at £378,000 (2014 - £378,000) and no unrealised revaluation adjustment was necessary (2015- £92,584) at 31 July 2016.

No stock were held at 31 July 2016

5Transactions with directors

The total sum advanced by the directors to the company amounted to £504181 of which £29181 is repayable within 1 year and £475000 is repayable after one year