Abbreviated Company Accounts - FIDES SERVICES 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 April 2008).

The company is the parent undertaking of a small group and as such is not required by the
Companies Act 2006 to prepare group accounts. These financial statements therefore present
information about the company as an individual undertaking and not about its group.

1.2 Going concern

The director has prepared the financial statements on the going concern basis. This is considered appropriate as the company's shareholders and creditors will continue to provide financial support to the company for the foreseeable future. Should the company be unable to continue with its principal activity of holding and managing investments, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise.

1.3 Turnover

Turnover is derived from the principal activities of the company.

1.4 Investments

Investments held as fixed assets are shown at cost less provision for impairment.

1.5 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.

1.6 Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into euros at rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into euros at the rate ruling on the date of the
transaction.

Exchange gains and losses are recognised in the Profit and loss account.

1.7 Compliance with and departure from accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied
consistently (except as otherwise stated).

The company has not disclosed the ultimate controlling party which is a requirement of the Financial Reporting Standard for Smaller Entities (effective April 2008). This is a departure from the accounting standard. The director is of the opinion that the non disclosure of this information does not affect the truth and fairness of the financial statements.

2Fixed assets Investments
Cost or valuation
At 1 May 2013 - €330,145
Additions in period - €522,647
At 30 April 2014 - €852,792

Net book value
At 30 April 2014 €852,792
At 30 April 2013 €330,145

1,000 Ordinary shares of £1 each, €1,133 (2013 :€1,133)