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.
Investments in subsidiaries
Investments in subsidiaries are carried at cost less impairment. Directly attributable transaction costs (including stamp duty) are capitalised. The carrying amount is reviewed for indicators of impairment at each reporting date in accordance with FRS 102 Section 27.
Income from investments
Dividends are recognised in profit or loss when the Company’s right to receive payment is established (i.e. when declared by the investee before the reporting date).