Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard applicable to the Micro-Entities Regime (FRS 105) issued by the Financial Reporting Council, and the provisions of the Companies Act 2006.
Turnover
Turnover represents amounts receivable for services provided in the normal course of business, exclusive of VAT.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful economic life, as follows:
• Plant and equipment -- 33% straight line
• Computer equipment -- 33% straight line
• Motor vehicles -- 20% straight line
Taxation
The charge for taxation is based on the profit for the year and takes into account taxation deferred because of timing differences between the treatment of certain items for taxation and accounting purposes. Under FRS 105, deferred tax is not recognised.