Abbreviated Company Accounts - BOFFIX LTD

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 January 2015.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT. The total turnover of the company for the period has been derived from its principal activities.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment: 25% on straight line basis

Other accounting policies
Investments
Investments in subsidiary undertakings are stated at cost.

Going Concern
We believe that the company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. This support is required as the company has net current liabilities of £283,913 and net liabilities of £263,721. We believe no further disclosures relating to the company's ability to continue as a going concern need to be made in the financial statements. In assessing going concern, we have paid particular attention to a period of not less than one year from the date of approval of the financial statements.

Foreign currencies
Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction (or, if hedged forward, at the rate of exchange under the related forward currency contract). Monetary assets and liabilities denominated in foreign currencies are translated using the contracted rate or the rate of exchange ruling at the balance sheet date and the gains or losses on translation are included in the profit and loss account.

Taxation
The charge for taxation is based on the loss for the period and takes into account taxation deferred because of timing differences between the treatment of certain items for taxation and accounting purposes.

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes which have arisen but not reversed by the balance sheet date, except as otherwise required by FRS 19.

3Fixed assets Investments
The companies in which the company's interest at the period end is more than 20% are as follows:

Accountants in a box Limited, incorporated in the UK, providing accounting and bookkeeping services, 75% of Ordinary shares held.

Your VPA Limited, incorporated in the UK, providing call center activities, 100% of Ordinary shares held.

Layer17 ICT Ltd, incorporated in the UK, providing information technology consultancy activities, 100% of Ordinary shares held.