Abbreviated Company Accounts - SYMATRIX LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
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 April 2008).

Turnover policy
Turnover comprises revenue recognised by the company in respect of services provided during the year, exclusive of Value Added Tax and discounts. Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit recognised reflects the proportion of the work carried out at the
year end, by recording turnover and related costs as contract activity progresses.
Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen. Turnover in relation to support services is recognised over the term of the service agreements, having regard to the nature and timing of the services being delivered. Turnover in respect of other services is recognised on delivery of those services.

Tangible assets depreciation policy
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:

Furniture, fittings and equipment - 33.33% straight line

Other accounting policies
Operating leases
Rentals under operating leases are charged to the profit and loss account on a straight line basis
over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a
straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.

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.

Pensions
The company contributes to personal pension plans on behalf of its employees. The pension charge represents the amounts payable by the company to the fund in respect of the year.

Debtors include £28,000 (2013 - £NIL) falling due after more than one year.

Preference ‘A’ shares have right to a cumulative dividend of 0.0674p per share. Preference ‘A’ shares hold 100% of the voting rights. Upon winding up, the Preference 'A' shares rank above the holders of the ‘B’ Ordinary shares and are entitled to receive any amount accrued but not yet paid in respect dividends together with 0.0674p per share.