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 continuation of the company is reliant upon the financial support of the directors who have confirmed that they will continue to support the company for the foreseeable future. The directors consider that there are adequate resources in place to successfully manage its business risks and therefore they continue to adopt the going concern basis when preparing the financial statements.

Turnover comprises of the invoiced value of services supplied by the company during the normal course of its business which is stated net of trade discounts. Turnover is recognised in the financial statements when the service provided is invoiced to the customer such that the risks and rewards of the service have passed to the buyer. Invoices are issued at regular intervals during the year. Provisions are made at the reporting date for services that are not aligned with the year-end date, and these are apportioned on a time basis. 

The current tax payable 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 for current tax 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.
A deferred tax asset is recognised to the extent that it is probable that it will be recovered against other future taxable profits. The carrying amount of the deferred tax asset is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled, or asset is realised. 

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 properties are valued in the financial statements at their fair market value where this can be reliably measured without undue cost or effort. Changes to the fair values are recognised in the profit and loss account. The accumulated gains or losses in the fair values together with any associated deferred tax implications are taken to the revaluation reserves (fair values) and will only be transferred to the retained profit and loss reserves following the sale of a relevant investment property. The methods and assumptions used to ascertain the fair market value and subsequent gain, or loss are given below: 

• Properties are valued using an open market valuation on a freehold basis, conducted annually by the directors.

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 that are 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.