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)

Turnover is made up of the invoiced value of goods and services, net of trade discounts and VAT, which have been supplied by the company during the course of its ordinary trading operations. Turnover is recognised in the accounts on the date that a sales invoice is issued and sales invoices are issued following the completion of a service or the sale of goods that have arisen during the period. A provision for incomplete sales is made at the accounting reference date for services that commenced before that date but were not completed until after that date and the value of the provision is based on the selling price of the amount of work completed.

The taxation for the year is based on the taxable profit or loss The taxable profit or loss may differ from the profit or loss reported in the financial statements because adjustments are made for items that are treated differently for tax purposes compared to their treatment for accounting purposes. The tax liability is based on current tax law.

Deferred tax is provided in full in respect of taxation deferred due to the differences of how certain items are treated for tax purposes compared to their treatment for accounting purposes. The deferred tax balance has not been discounted.

Dividends that are deemed to have been voted 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.

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Amounts recoverable on contracts are attributable to incomplete services that commenced before the accounting reference date but not invoiced until after that date. The value of the incomplete service is based on the final contract price and the percentage of work completed at the accounting reference date.  

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 applicable 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.