NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023
Zephyre Alb Limited is a private company limited by shares and incorporated in England and Wales. Its
registered office is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, England, WD6 1JD.
The principal activity of the Company during the year was that of a Management consultancy activities
other than financial management.
The Company was incorporated on and started trading 21 January 2022.
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:
Turnover comprises of revenue recognised in respect of services provided in the year, net of trade
discounts and excluding Value Added Tax. Revenue from services is recognised when all contractual
obligations have been met.
Consultancy services are recognised in the period to which they relate.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
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