The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

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. Costs associated with Trademarks, Patents and safeguarding intellectual property.

The capitalised development costs are subsequently held as an Asset, covering actual costs incurred which will be amortised once the projects come to market, as at the Balance Sheet date the Directors are of the opinion that no amortisation is necessary as the associated projects are too far in the future from assessing their useful economic lives.