Abbreviated Company Accounts - XENDICA LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention, and in accordance
with the Financial Reporting Standard for Smaller Entities (effective April 2008).
In our opinion, on the basis of information and enquiries that are pertinent to the company's
circumstances and which we believe to be adequate, it is appropriate to continue to treat the
company as a going concern. In particular we believe that adequate cash resources will be available to cover the company's requirements for working capital for at least twelve months from the date of signing the financial statements.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year,
exclusive of Value Added Tax.

Tangible assets depreciation policy
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value,
over the useful economic life of that asset as follows:
Equipment - 33% straight line

Other accounting policies
Consolidation
In the opinion of the directors, the company and its subsidiary undertakings comprise a small group.
The company has therefore taken advantage of the exemption provided by Section 398 of the
Companies Act 2006 not to prepare group accounts.

Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed
at the balance sheet date where transactions or events have occurred at that date that will result in an
obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value
adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into
replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement
to dispose of the assets concerned. However, no provision is made where, on the basis of all
available evidence at the balance sheet date, it is more likely than not that the taxable gain will be
rolled over into replacement assets and charged to tax only where the replacement assets are sold. Deferred tax assets are recognised only to the extent that the directors consider that it is 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 is measured on an undiscounted basis at the tax rates that are expected to apply in the
periods in which timing differences reverse, based on tax rates and laws enacted or substantively
enacted at the balance sheet date.

Investments
Investments are carried forward at the lower of cost and net realisable value.

3Fixed assets Investments
The company owns 100% of the issued share capital of the company listed below:
Xendica (Mauritius) Limited
Aggregate capital and reserves
2015 - £(24,844)

Xendica (Mauritius) Limited
Profit and (loss) for the year
2015 - £(15,420)

It is the intention of the directors to close down this company.

Debtors include amounts of £37,324 (2014 - £Nil) falling due after more than one year.