Balance sheet continued

As at 28 February 2025

For the year ending 28 February 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 28 February 2025

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
  
  Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (when payment is made in full), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
  
  Revenue from the sale of services is recognised at the point at which the service is provided.

  Tangible fixed assets depreciation policy

  Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation
  and any impairment losses.
  
  Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
  
  Fixtures and fittings 25% reducing balance
  Computers 33.33% straight line

  Intangible fixed assets amortisation policy

  Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less
  accumulated amortisation and accumulated impairment losses.
  
  Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
  
  Software 3 years