CALIX TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Calix Technology Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 10th Floor Holborn Tower, 137-144 High Holborn, London, WC1V 6PL.
The financial statements are presented in Sterling (£).
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 was, at the end of the year, a subsidiary of Calix Holding Limited, whose registered address is 10th Floor Holborn Tower, 137-144 High Holborn, London, WC1V 6PL. Calix Holding Limited prepares consolidated financial statements, in which the company is included. In accordance with the exemption given in Section 400 of the Companies Act 2006, the company is not required to produce, and has not published, consolidated accounts.
The financial statements have been prepared on a going concern basis notwithstanding the fact that the company has generated an operating loss in the year of £7,481 (2021: loss £26,469) and has net liabilities of £359,956 (2021: £352,475) at 31 December 2022.
The director has a reasonable expectation that the company and its group has adequate resources to continue in operational existence and meet its liabilities as they all fall due for the foreseeable future, being a period of at least twelve months from the date of these financial statements were approved. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.
Investments in subsidiaries are measured at cost less accumulated impairment.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty
on notice of not more than 24 hours.
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
The company’s policies for its major classes of financial assets and financial liabilities are set out below.
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