1Accounting Policies

Basis of measurement and preparation of accounts
The Directors are funding the Company and confirm that they will continue to do so until the Company becomes profitable. The Directors are currently in negotiations for third party investment and believe that the Company will soon be profitable and thus the accounts have been prepared on a going concern basis.

Accounting Convention
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 net invoiced sales of goods, excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost

Valuation information and policy
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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