RATIOBOND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
Ratiobond Limited is a private company, limited by shares, incorporated in England and Wales, registration number 01876288. The registered office is 53 Cartwright Gardens, London, WC1H 9EL.
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.
Ratiobond Limited is the parent company of a small group. It is not required to prepare and has not prepared group accounts. These are the financial statements of the parent company, not the group.
The financial statements are presented in £ sterling, the functional currency, rounded to the nearest £1.
The following principal accounting policies have been applied:
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Investments in subsidiaries are measured at cost less accumulated impairment. Previous impairment losses are reversed when there is a change in the estimates used in measuring the impairment loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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