The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The directors have prepared the accounts on a going concern basis. The directors relied upon a loan as disclosed in the accounts of £101,354 for the funding of day to day cash requirements when the company had operational activities. If this loan were to be recalled, then company would need to dispose of some assets in order to honor the repayment, to date however there is no indication that the loan will be recalled.