The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

We note the balance sheet shows a deficit of assets, however the company has made great strides to put themselves in a good position for the years ahead and with the plans for the forthcoming years we hope to see the company within a solvent position. The continuation of the company’s affairs is dependent upon the support of the creditors. These financial statements have been prepared on a going concern basis which assumes the continued support of the directors for the foreseeable future.

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Other intangible assets are intoxicating Liquor Licence. It is amortised to profit and loss account over10 years.

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.