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.

The director believes that it is appropriate for the financial statements to be prepared on a going concern basis given his continuing efforts to secure new profitable contracts.

Turnover policy
Turnover represents the amounts receivable for goods and services net of vat 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 less estimated residual value of each asset over is expected useful life as follows;

Plant and machinery 5 - 20% reducing balance, 5 - 20% straight line on revalued assets
Fixtures, fittings & equipment 15% reducing balance
Motor vehicles 25% reducing balance

The part of the annual depreciation charge on revalued assets which relates to the revaluation surplus is transferred from the revaluation reserve to the profit and loss account.