2Accounting Policies

Basis of measurement and preparation of accounts
These financial statements have been prepared under the historical cost convention and in accordance with FRS 105, The Financial Reporting Standard applicable to the Micro-entities Regime, and the Companies Act 2006. They are prepared on a going concern basis. The directors have considered the company's net liabilities, continuing trading, available support and existing payment arrangements and expect the company to meet its obligations over the next twelve months.

Tangible assets depreciation policy
Tangible fixed assets are stated at purchase cost less accumulated depreciation and impairment. Depreciation is charged on a straight-line basis from the date assets are available for use, over estimated useful lives after deducting estimated residual values. Equipment lives range from two to ten years and vehicle lives from five to seven years. Depreciation does not reduce an asset below its estimated residual value. Impairment losses are recognised where carrying amounts are not recoverable.

Other accounting policies
Government grants relating to capital assets are deferred and recognised in income systematically over the periods of the related asset costs. The remaining deferred balance is recognised when the associated assets are disposed of and no repayment is required.

Correction of prior period errors: the comparative balance sheet for 31 December 2024 has been restated following reconstruction of the accounting records. Corrections relate to asset costs and depreciation, revenue and payment processor balances, VAT, loans, grants and other liabilities. Comparative net assets and opening capital and reserves are restated from the previously reported GBP 34483 to GBP 7506, a reduction of GBP 26977. This reduction is reflected in the comparative figures and opening reserves rather than charged to the 2025 result. Comparative figures cover 10 December 2023 to 31 December 2024.

The comparative balance sheet amounts, previously reported followed by restated (GBP), are: fixed assets 49605 / 42113; current assets 3972 / 10700; prepayments and accrued income 0 / 45; creditors due within one year 19094 / 30778; accruals and deferred income 0 / 14574; net assets and capital and reserves 34483 / 7506. Figures are presented in whole pounds, with a GBP 1 presentation rounding adjustment to prepayments.

Taxation: no current Corporation Tax provision is recognised, supported by reviewed capital allowances in the comparative period and a loss in the current year. No deferred tax asset is recognised under FRS 105. The VAT creditor of GBP 20844 included in current creditors reflects reconstructed transaction records. Historical submitted VAT returns require separate reconciliation and any necessary correction; this book balance is not the current HMRC repayment-plan balance. Comparative VAT receivable is GBP 8377.