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 January 2015.

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machinery 20% straight line
Motor Vehicles 20% straight line

Intangible assets amortisation policy
Intangible assets are written off in equal instalments over their estimated useful lives.
Goodwill 5 years
Website Creation 3 years.

Valuation information and policy
Stock is valued at the lower of cost and net realisable value.

Other accounting policies
Deferred Taxation
full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. deferred taxation is calculated on an un-discounted basis at the rates which are expected to apply in the periods when the timing differences will reverse.

Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. all differences are taken to the profit and loss account.

Pensions
the Company did not have an active pension scheme in the year ending 30th April 2016.

Goodwill was written off in equal instalments over its estimated economic life of 5 years. Leaving the website creation costs being written off in equal instalments over 3 years.