Abbreviated Company Accounts - MDX SOLUTIONS 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 April 2008.

Turnover policy
Turnover represents fees received from customers and commission received

Tangible assets depreciation policy
Depreciation is charged at the following rates in order to write off each asset over its estimated useful life :-
Leasehold Improvements - 20% on cost
Fixtures & Fittings - 15% on cost
Computer Equipment - 25% on cost

Intangible assets amortisation policy
Development expenditure is recognised as an expense except for that expenditure incurred on development projects which are capitalised as long term assets to the extent that such expenditure is expected to generate future economic benefits. Development expenditure is capitalised if it meets the criteria as required by the accounting standard SSAP 13 for Research & Development.
Capitalised development expenditure is measured at cost less accumulated amortisation and impairment losses. Development expenditure initially recognised as an expense ic not recognised as assets in the subsequent period. The development expenditure is amortised on a straight-line method over a period of 5 years when the products are ready for sale or use. In the event that the expected future economic benefits are no longer probable of being recovered, the development expenditure is written down to its recoverable amount.

Other accounting policies
UK Corporation tax has been provided on taxable profits for the year ended 31 May 2016. No liability arose for the year ended 31 May 2015