Abbreviated Company Accounts - LOKPAL LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Valuation information and policy
Fixed asset investments are stated at cost less provision for permanent diminution in value.

Other accounting policies
Deferred Taxation:
Provision is made for deferred tax using the liability method to take account of timing differences between the incidence of income and expenditure for taxation and accounting purposes except to the extent that the directors consider that the liability is unlikely to materialise.

Group accounts:
The company is entitled to the exemption under 398 of the Companies Act 2006 from the obligation to prepare group accounts.

3Fixed assets Investments
Investments of £150,060 (2013: £132,441) consisted of investments held in its subsidiaries at the balance sheet date.

Holdings of 20% or more:
The company holds 20% or more of the share capital of the following companies.

Subsidiary:

1. Asklepius Limited was incorporated in England & Wales. Its nature of business is that of cosmetic research. 60% of the ordinary shares are held in the subsidiary. Asklepius Limited reported capital and reserves of (£117,031) and a loss for the year of (£11,436) in its last relevant financial year.

2. Yagna Limited was incorporated in England & Wales. Its nature of business is that of medical and bio degradable food packaging research. 60% of the ordinary shares are held in the subsidiary. Yagna Limited reported capital and reserves of 1,495,152 and a profit for the year of £20,256 in its last relevant financial year.