The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)

The directors consider that the company has adequate resources in place to manage its business risks for the foreseeable future which is due to the financial support given by the directors. Therefore, the going concern basis of accounting continues to be used in preparing the financial statements.

Turnover comprises of the annual value of services supplied by the company, net of trade discounts. Turnover is recognised in the accounts when the company becomes entitled to a consideration for the services provided.

The current tax position is based on the taxable profit or loss for the period. The taxable profit or loss may differ from that reported in the financial statements because adjustments are made for items that are treated differently for taxation compared to their treatment for accounting purposes. The company's liability or refund for the current tax year is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and their treatment for accounting purposes. The deferred tax balance has not been discounted.

Dividends that are deemed to have been approved and paid during the period are included in these financial statements. Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.

Investment property is initially measured at the acquisition value plus transaction costs. Subsequent valuations are included in the financial statements using the fair value as at the reporting date.  Any movement in fair value during the period is recognised in the profit and loss account and the aggregate surplus or deficit over acquisition value is transferred to a fair value reserve account together with any associated deferred tax implications. The surplus or deficit in fair value is only transferred to distributable profit and loss reserves in the event of an investment property sale.

Interests in subsidiaries are initially measured at cost which normally includes the transaction price plus the transaction costs. Subsequent valuations are measured at fair value less any accumulated impairment losses. The investments in subsidiaries are assessed at each reporting date and their valuation is based on the current financial statements of each subsidiary. Any gains or losses are recognised immediately in profit or loss account and transferred to the accumulated revaluation reserve (fair values) account together with any associated deferred tax implications. A subsidiary is an entity controlled by the company for which control is defined as the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial instruments included within these financial statements are valued at the transaction price ruling at the time of the transaction.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.