PEOPLELIKEME IP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Peoplelikeme IP Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office address is Salisbury House, 2-3 Salisbury Villas, Cambridge, CB1 2LA. Its principal place of business is 6 Dorneywood Close, Burnham, Slough, SL1 8FB.
The Company's functional and presentatinal currency is GBP.
2.ACCOUNTING POLICIES
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BASIS OF PREPARATION OF FINANCIAL STATEMENTS
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The Company had net liabilities of £102,125 (2020 : £98,573) as at 31 December 2021, however, the financial statements are prepared on the going concern basis on the assumption that the shareholder will continue to provide sufficient funds to the Company to enable it to meet its liabilities as they fall due.
Interest income is recognised in profit or loss using the effective interest method.
Tangible fixed assets under the cost model are 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.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Short term debtors are measured at transaction price, less any impairment.
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