Abbreviated Company Accounts - MATRIKS 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).
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption is based on the continued support of its major creditors, shareholders and directors prior to trading income being received in the next 12 months.

Accounting for grants
Innovate UK Grant has been credited in the profit and loss account for year ended 31 March 2015.

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery 20% on cost

Intangible assets amortisation policy
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Development costs 10% straight line over 10 years

Other accounting policies
Leasing and hire purchase commitments

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease. Rental paid under operating leases are charged to income on a straight line basis over the lease term.