Loxavet Ltd.Liquidiert

LOXAVET LIMITED

München

London

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31/12/2010

ABBREVIATED BALANCE SHEET AS AT 31/12/2010

For the year ending 31/12/2010 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the board on Eberhard Raab, Director.

NOTES TO THE ABBREVIATED ACCOUNTS

1 ACCOUNTING POLICIES

These accounts have been extracted from full financial statements.

These statements have been prepared under the historical cost convention and in accordance with the German tax law and with the Financial Standard for Smaller Entities (FRSSE, effective April 2008).

Turnover

Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.

Cash flow

The company has taken advantage of the exemption from the requirement to prepare a cash flow statement under the Financial Reporting Standard for Smaller Entites.

Currency

The business of the company and its total transactions are conducted exclusively in the currency of European EURO (EUR) Therefore all relevant Information availabe as at 31/12/2010 had to be translated into British Pound applying the exchange rate arculated by the Bank of England regarding the accounting reference date.

To the extent this report also includes accounts subject to reports filed with the Companies House of preceeding financial years this could lead to differences according to a change of exchange rates between the present and preceeding accounting reference dates where such differences occur they are explicitly shown in the report.

Depreciation

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives, as follows.

2 FIXED ASSETS

3 SHARE CAPITAL