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
Total turnover consists of fees from online currency exchange services.

Tangible assets depreciation policy
Property, plant and equipment is stated at historical cost less accumulated depreciation and
any accumulated impairment losses. Historical cost includes expenditure that is directly
attributable to bringing the asset to the location and condition necessary for it to be capable
of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over
their estimated useful lives, using the straight-line method. Capitalized reconstruction and
internal design costs of leased office space are depreciated over the lease term (5 years).

Intangible assets amortisation policy
The company has developed software for providing currency exchange services. Development costs that are directly attributable to the design and testing of the software controlled by the company are recognised as intangible assets when they meet the recognition criteria. Costs associated with maintaining computer software are recognised as an expense as incurred. Directly attributable costs that are capitalised as part of the software product include the software development employee costs.

Internally generated computer software development costs recognised as assets are amortised over their estimated useful lives of five years.

4Fixed assets Investments
Shares in group undertakings

Cost - £10,822 (£2,085 - 2014)
Net book value - £10,822 (£2,085 - 2014)