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
The turnover and profit before taxation is attributable to the one principal activity of the company.
Turnover attributable to geographical markets outside the United Kingdom amounted to 5.37% (2013 -
2.02%).

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to
write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery 25 % straight line
Computer equipment 25% straight line
Fixtures, fittings & equipment 25% straight line
Motor vehicles 25% straight line

Valuation information and policy
Intellectual Property
Intellectual Property is written off in equal annual instalments over its estimated useful economic life of ten
years.

Other accounting policies
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and
depreciated over the shorter of the lease term and 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.
1.7 Stock
Stock is valued at the lower of cost and net realisable value.
1.8 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.