EXPERIENCE THE OUTDOORS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Experience The Outdoors Ltd is a private company, limited by shares, registered in England and Wales. The company's registered office address is 124 Finchley Road, London, England, NW3 5JS.
The company was incorporated on 30 September 2021 and started trading on the following day.
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 presentational currency is GBP.
The following principal accounting policies have been applied:
The company is showing net liabilities at the reporting date. The company meets its day to day working capital requirements through its own resources and an intercompany loan.
After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The director therefore continues to adopt the going concern basis in preparing the company's financial statements.
Revenue comprises of box office sales of a theatrical production, net of commissions and banking charges and is exclusive of VAT. Revenue is recognised in the period to which the attendance occurred
Short-term debtors are measured at transaction price, less any impairment
Short-term creditors are measured at the transaction price.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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