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.

The financial statements have been prepared on a going concern basis, due to the continued support of the directors.

Turnover policy
Turnover represents amounts receivable for goods net of VAT. Turnover is recognised when the goods are delivered to the customer.

Tangible assets depreciation policy
Tangible fixed assets other than freehold land 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 its expected useful life, as follows:

Land and buildings Freehold 2% Cost
Land and buildings Leasehold 4% Cost
Plant and machinery 25% Net Book Value
Fixtures, fittings and equipment 25% Net Book Value
Motor vehicles 25% Net Book Value

Other accounting policies
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years.

Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £16,918 (2012 £14,599).