1Accounting Policies

Basis of measurement and preparation of accounts
1. Accounting policies
The significant accounting policies adopted by the company and applied consistently are as follows:

1.1 Accounting convention
The accounts are prepared under the historical cost convention and in accordance with accounting standards generally accepted in the United Kingdom and United Kingdom statute comprising the Companies Act 2006.

1.2. Turnover
Turnover represents the total invoice value, excluding any value added tax, of sales made during the year.

1.3. Cash flow statement
The company meets the size criteria for a small company set by Section 382(1) to (6) of the Companies Act 2006 and therefore, in accordance with FRS1: Cash flow statements. it has not prepared a cash flow statement.

Turnover policy
2. Turnover
The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the UK.

Tangible assets depreciation policy
1.4. Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation.

Cost includes prime cost, overheads and interest incurred in financing the construction of tangible fixed assets. Capitalisation of interest ceases when the asset is brought into use.

The company undertakes a review for impairment of a fixed asset if events or changes in circumstances indicate that the carrying amount of the fixed asset may not be recoverable. To the extent that the carrying amount exceeds the recoverable amount, that is the higher of net realisable value and value in use, the fixed asset is written down to its recoverable amount. The value in use of fixed assets is determined from estimated discounted future net cash flows.

Depreciation is calculated in order to write off the cost of tangible fixed assets over their estimated useful lives as follows:

Fixtures, fittings and equipment - 20% Straight Line

Other accounting policies
1.5. 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.

There were no assets held under finance lease included in the tangible fixed assets.