Notes to the financial statements
For the year ended 31 October 2023
Rosetta Tax Limited is a private company limited by shares and incorporated in England and Wales. Its company registration number is 10229376 and the registered office and principal place of business is located at 6 Snow Hill, London, EC1A 2AY.
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' ('FRS 102') 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:
The company has sufficient liquid resources to continue as a going concern for the foreseeable future and the director believes the company will be able to meet its liabilities as they fall due for at least twelve months from the date of approval of these financial statements.
Turnover is recognised by the Company in respect of services supplied during the year, exclusive of VAT. Turnover in respect of professional services is recognised by reference to the fair value of the services provided at the balance sheet date as a proportion of the total value of engagement. Unbilled turnover is included in debtors as amounts recoverable on contracts.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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