BARROWCLIFFE COOKING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
Barrowcliffe Cooking Limited is a private company, limited by shares, domiciled in England with registration number 11216841. The registered office is 3 Hooton Street, Carlton Road, Nottingham, NG3 2NJ.
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 financial statements are prepared in Sterling, which is the functional currency of the company, and rounded to the nearest £.
The following principal accounting policies have been applied:
As at 31 May 2023 the Statement of Financial Position shows a net liabilities position. The Company is able to continue with the support of its immediate and ultimate parent companies and therefore will continue to adopt the going concern basis for the preparation of the financial statements.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
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The average monthly number of employees, including directors, during the year was 3 (2022 - 3).
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