Abbreviated Company Accounts - INGENIX ASSOCIATES LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
Basis of preparation of financial statements

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 January 2015).

Tangible assets depreciation policy
Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates
calculated to write off the cost of fixed assets, less their estimated residual value, over their
expected useful lives on the following bases:
Long-term leasehold property - Straight line over the life of the lease
Motor vehicles - 25% on reducing balance

Other accounting policies
Research and development expenditure

Research expenditure is recognised as an expense when it is incurred. Development expenditure is
recognised as an expense except that expenditure incurred on development projects are capitalised
as intangible assets to the extent that such expenditure is expected to generate future economic
benefits. Development expenditure is capitalised if, and only if an entity can demonstrate all of the
following:
1. There is a clearly defined project;
2. Expenditure is separately identifiable;
3. The project is commercially and technically feasible;
4. The projects income is expected to outweigh cost;
5. Resources are available to complete the project.
Capitalised development expenditure is measured at cost less accumulated amortisation and
impairment losses, if any. Development expenditure initially recognised as an expense is not
recognised as assets in the subsequent period. The development expenditure is amortised on a
straight-line method over a period of 2 years. 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.

Hire purchase

Assets obtained under hire purchase contracts are capitalised as tangible fixed assets and are
depreciated over their useful lives.

Operating leases

Rentals under operating leases are charged to the Profit and Loss Account on a straight line basis
over the lease term.

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 sterling at rates
of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the
transaction.

Exchange gains and losses are recognised in the Profit and Loss Account.

Rent receivable

Rent receivable relates to rent charged to associated companies in relation to leasehold properties,
exclusive of Value Added Tax.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the
contractual arrangements entered into. An equity instrument is any contract that evidences a
residual interest in the assets of the entity after deducting all of its financial liabilities. Finance costs
and gains or losses relating to financial liabilities are included in the Profit and loss Account. Finance
costs are calculated so as to produce a constant rate of return on the outstanding liability. Dividends
and distributions relating to equity instruments are debited direct to equity.

COMPARATIVE INFORMATION

The current periods figures are for 18 months to 30 September 2016, whereas the comparative figures are for 12 months, from 1 April 2014 to 31 March 2015, due to the Company changing its period end during the current period.

During the period the E shares became fully paid.

5Transactions with directors