1Accounting Policies

Basis of measurement and preparation of accounts
The full financial statements, from which these abbreviated accounts have been extracted, have
been prepared under the historical cost convention and in accordance with the Financial Reporting
Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover comprises revenue recognised by the company in respect of goods and services supplied
during the year, exclusive of Value Added Tax and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates
calculated to write off the cost of fixed assets, less their estimated residual value, over their
expected useful lives on the following bases:

Motor vehicles - 25% reducing balance method
Office equipment - 25% reducing balance method

Intangible assets amortisation policy
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value
of the identifiable assets and liabilities. It is amortised to the Profit and loss account over its
estimated economic life.