1Accounting Policies

Basis of measurement and preparation of accounts
The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Exemption from preparing group accounts
The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Turnover policy
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tangible assets depreciation policy
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Short leasehold land and buildings - Straight line over the life of the lease
Plant and machinery - 25% reducing balance
Fixtures, fittings and equipment - 25% reducing balance

Other accounting policies
Fixed asset investments

Investments held as fixed assets are stated at cost, together with subsequent capital contributions, less any provisions for impairment in value.
Investment income is recognised in the financial statements when the company becomes entitled to its share of profits from the fixed asset investment.

Current asset investments
Current asset investments are included at the lower of cost and net realisable value.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account

3Fixed assets Investments
Cost at 1 January 2013: £70
Additions: £36,000
Cost at 31 December 2013: £36,070

Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking Holding

Subsidiary undertakings- Total Renewable Solutions South West Limited
Proportion of voting rights and shares held - Ordinary shares 70%
Principal activity - Wholesale of hardware, plumbing and renewable heating equipment and supplies