Notes to the financial statements
For the year ended 31 March 2021
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 12 Colworth Grove, Browning Street, London, SE17 1LR.
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.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 financial statements are prepared in sterling, which is the functional currency of the entity
The following principal accounting policies have been applied:
The financial statements are prepared on a going concern basis, the validity of which depends upon the continued financial support, which has been provided by a loan from the directors who have indicated this support will continue for the foreseeable future. The directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102 1A.
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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The company has no employees other than the directors, who did not receive any remuneration.
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