Balance sheet continued

As at 31 December 2024

For the year ending 31 December 2024 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 31 December 2024

• 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 measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
  Turnover includes revenue earned from the sale of goods and the rendering of services. It is recognized when the significant risks and rewards of ownership have transferred to the buyer or, for services, by reference to the stage of completion of the transaction.
  

  Tangible fixed assets depreciation policy

  Tangible fixed assets are measured at cost less accumulated depreciation and impairment losses. Depreciation is charged to write off the cost of assets over their useful lives:
  Plant & Machinery 33 % Straight Line
  Motor Vehicles 25 % Reducing Balance
  Computer Equipment 25 % Reducing Balance
  
  For tax purposes, full relief on additions was claimed via the Annual Investment Allowance.
  

  Other accounting policies

  Sale of goods Turnover from the sale of goods is recognized when the significant risks and rewards of ownership of the goods have transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. Rendering of services Turnover from the rendering of services is recognized by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. Foreign Currencies Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Exchange differences are recognized in profit or loss.