Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Turnover is derived from long-term construction contracts . Turnover in respect of rendering of these services is recognised with reference to the stage of completion of the contract. Stage of completion is measured by the value of work completed by the end of the financial year

There are no judgements in relation to specific accounting policies that have a material effect on the amounts recognised within these financial statements.

There are no key sources of estimation or key assumptions concerning the future that carry a significant risk of resulting in a material adjustment to the carrying amounts of any assets or liabilities within the next financial year.

It is the case, however, that the Company's income is derived from long-term construction contracts for which the Company is required to make estimates in accounting for revenue and margin. These estimates may depend upon the outcome of future events and may need to be revised as circumstances change.

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.