Abbreviated Company Accounts - PRINTINC SOLUTIONS LIMITED

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).

Other accounting policies
Going Concern

The director has prepared the financial statements on the going concern basis although the balance sheet shows negative shareholders funds. This is considered appropriate as the company's shareholders and creditors will continue to provide financial support to the company for the foreseeable future and the company is expecting to make profits in future years that will reverse this position. Should the company be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise.


Deferred taxation

Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.

A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.

Deferred tax assets and liabilities are not discounted.


Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into euros at rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into euros at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Profit and loss account.


Compliance with and departure from accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

The company has not disclosed the ultimate controlling party which is a requirement of the Financial Reporting Standard for Smaller Entities (effective April 2008). This is a departure from the accounting standard.

These are departures from the accounting standard.The director is of the opinion that the non disclosure of this information does not affect the truth and fairness of the financial statements.


Fixed Asset Investments

Cost or valuation
At 1 March 2014 and 28 February 2015: €920

Net book value
At 28 February 2015: €920
At 28 February 2014: €920

Participating Interests

Associates

Name: Madagascar Printing Editing SA
Country of Incorporation: Madagascar
Class of shares: Ordinary
Holding: 25%
Principal activity: Press and Publishing

Name: Madagascar Printing Editing SA
Aggregate of share capital and reserves: (€34,660)
Profit/(Loss): (€37,760)

2Fixed assets Investments
Investments held as fixed assets are shown at cost less provision for impairment.