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 directors consider that the company is in an acceptable financial position to manage its business risks for the foreseeable future and therefore they continue to adopt the going concern basis of accounting. 

Turnover represents the amounts receivable from the sale of goods and services supplied by the company which arise from the ordinary trading operations. Turnover is shown in the accounts net of Value Added Tax and trade discounts.
Turnover is recognised in the financial statements once it has been invoiced which occurs on the completion of a service performed or the sale of goods provided when the company becomes entitled to a consideration for the performance of its obligations.
A provision is also included in turnover for services that are in progress at the accounting reference date but have not been invoiced prior to that date. The value of the provision is based on the value of work performed up to that date.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Planning and operating costs for the company's website are charged to the income statement as incurred.

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the statement of financial position. Financial transactions that are transacted in foreign currencies are translated into sterling at the rate ruling at the date of the transaction. All foreign exchange rate differences are included in the income statement.

The current year tax position 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 compare to their treatment for accounting purposes. The tax liability is based on current tax law and rates.

Deferred tax is provided in full in respect of taxation deferred due to the differences of how certain items are treated for taxation compared to their treatment for accounting purposes. The deferred tax balance has not been discounted and is based on rates expected to apply if the liability were to materialise.

Dividends that are deemed to have been voted and paid during the year are included in these financial statements. Proposed dividends are only included as liabilities in the financial statements when their payment has been approved by the shareholders prior to the balance sheet 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 basis shown below. Impairments, residual values and expected useful lives are determined by the directors using their experience of the business.

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads where that is relevant to the items in stock.

Debtors include amounts recoverable on long term contracts which are stated at the net sales value of the work performed to date. Long term contracts consist of services which take more than one day to complete. A provision for contingencies, anticipated losses and amounts received on account are taken into consideration for the valuation where this is relevant to the contract being performed. Any excess progress payments are included in creditors as payments on account.

Provisions are recognised when the company has a present obligation as a result of a past event in which it is probable that an outflow of economic benefit will occur and a reasonable estimate of the outflow can be made.

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.
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.