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 director has the opinion that the company has adequate funds to manage its business risks for the foreseeable future and therefore, it continues to adopt the going concern basis of accounting when preparing the financial statements.

Turnover comprises of the value of goods and services sold by the company during the course of its ordinary business, which is net of Value Added Tax and trade discounts. Turnover is recognised in the financial statements following the issue of a sales invoices when the rewards of ownership have passed to the customer. Sales invoices are issued at regular intervals during the year following the completion of a service or the sale of goods.

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.

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.

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:

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 which includes current assets and liabilities 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.