Notes to the Financial Statements

for the Period Ended 31 March 2025

• 1. Accounting policies (continued)

  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:
  
  Land and buildings Leasehold - equal annual instalments over the term of the lease
  
  Plant and machinery - 20% straight line basis for the first four years, then 1% straight line for the remainder of the life of the asset
  
  Fixtures, fittings & equipment - straight line over 3 years
  Computer equipment - straight line over 3 years
  
  Motor vehicles - 25% straight line basis
  
  The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
  
  Impairment of fixed assets
  
  At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
  
  Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
  
  If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
  
  Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
  
  
  
  
  

  Valuation information and policy

  Inventory
  
  Inventory is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventory to its present location and condition.
  
  Inventory held for distribution at no or nominal consideration is measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
  
  At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventory over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
  

Notes to the Financial Statements

for the Period Ended 31 March 2025

• 2. Employees

  	2025	2024
  Average number of employees during the period	2	2

Notes to the Financial Statements

for the Period Ended 31 March 2025

• 3. Off balance sheet disclosure

  No

Notes to the Financial Statements

for the Period Ended 31 March 2025

4. Tangible assets