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 April 2008.

Turnover policy
Turnover represents the 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.

Tangible assets depreciation policy
Tangible fixed assets and depreciation
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Leasehold properties - Straight line over the life of the lease
Fixtures, fittings and equipment - 25% straight line

Other accounting policies
Research and development
Research expenditure is written off to the profit and loss account in the year in which it is incurred.

Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.

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

Pensions
The pension costs charged in the financial statements represent the contribution payable by the
company during the year.

Deferred taxation
No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.

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.

Group accounts
The company is entitled to the exemption under Section 398 of the Companies Act 2006 from the
obligation to prepare group accounts.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3Fixed assets Investments
Subsidiary undertaking £4,889 (Year 2015) £4,889 (Year 2014)