Abbreviated Company Accounts - IDAPPCOM LTD.

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

These financial statements have been prepared on the going concern basis. The director acknowledges that the balance sheet shows net current liabilities and net liabilities but considers that it remains appropriate to prepare the accounts on the going concern basis. The greater part of the creditors balance consists of the director's loan account. The director confirms his intention to maintain his support of the company for the foreseeable future such that it may continue to be able to settle its liabilities as they fall due.

Turnover policy
Turnover consists of the sales value, excluding VAT, of work in the period falling within the company's ordinary activities to supply goods and services to third parties.

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

Plant and machinery etc - 33% on cost

Intangible assets amortisation policy
Intangible assets, which consist of purchased IP and other rights and development costs, are capitalised at cost and depreciated on a straight line basis over their useful economic lives which are now estimated to be 20 years.

Other accounting policies
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Research and development
Expenditure on research and development is written off in the year in which it is incurred except where the expenditure relates to identifiable projects where there is reasonable certainty that future revenues will exceed the development costs, in which cases the costs are capitalised as intangible assets and written off over the period in which the revenues from such projects are receivable.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.