SHARROW ORGANIC SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
Sharrow Organic Supplies Limited is a private company limited by shares, incorporated in England and Wales (registered number: 08046538). Its registered office is 443 Handsworth Road, Handsworth, Sheffield, England, S13 9DD. The principal activity of the Company continues to be that of property development.
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 Company's functional and presentation currency is pounds sterling.
The following principal accounting policies have been applied:
At 31 January 2023 the Company's liabilities exceeded its assets by £72,246 (2022: £60,062). The ability of the company to meet its liabilities as they fall due is dependent on the future profitability and cash generation of the company. The directors are confident that the company will be able to pay its debts as they fall due and accordingly these accounts are prepared on a going concern basis.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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