Notes to the financial statements
For the year ended 30 June 2023
The company is a private company limited by shares and incorporated in England and Wales. The registered office and its principal place of business is 410 Rathbone Square, 37 Rathbone Place, London, United Kingdom, W1T 1JN.Its company registered number is 13480183.
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 Republic of Ireland' ('FRS102') and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical
accounting estimates. It also requires management to exercise judgement in applying the company's
accounting policies.
The following principal accounting policies have been applied:
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Stock and work in progress
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Stock are stated at the lower of cost and net realisable value, being the estimated selling price less costs to
complete and sell. Cost is based on the purchase price.
At each reporting date, stock are assessed for impairment. If stock is impaired, the carrying amount is
reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in
the Statement of income and retained earnings.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on
notice of not more than 24 hours.
Short term creditors are measured at the transaction price. Other financial liabilities 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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The average monthly number of employees, including director, during the year was 1 (2022 -1).
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