ZRG WALKING THE TALK UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
The Company is a private company limited by shares and is incorporated in England and Wales, and the registered number is 13971254. The address of its registered office is 45 Whitfield Street, London, UnitedKingdom, W1T 4HD. The Company's principal activity is to provide management consultancy services via UK based employees to organisations across Europe.
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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland 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.
These are the Company's first set of financial statements prepared in accordance with FRS 102.
The following principal accounting policies have been applied:
This is the Company's first set of financial statements and the balance sheet shows net assets of £100. The Company does not have a bank account in the UK and is dependent upon financing from other ZRG related entities. As such, a letter of support has been provided by an appropriate entity within the ZRG Group that they will continue to settle the liabilities of the UK company as they fall due. As such, the directors of the Company consider it appropriate to prepare the financial statements on a going concern basis.
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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