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 total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.
In accordance with the principles of revenue recognition, income is recognised as the right to consideration through performance of contractual obligations, and is included in the financial statements when the company is legally entitled to the income.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Plant and machinery - 25% straight line
Motor vehicles - 25% straight line

Other accounting policies
Stock
Stock and work in progress are valued at the lower of cost and net realisable value.

Deferred Taxation
Deferred tax is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.