CHEMBONG MALAY RUBBER COMPANY (1920) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
Chembong Malay Rubber Company (1920) Limited is a private company limited by shares incorporated in England in the United Kingdom. The Company's registered number is 00166513 and registered office address is c/o Birketts LLP, One London Wall, Barbican, London, EC2Y 5EA, England. The Company is domiciled in Malaysia.
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 United Kingdom and the Republic of Ireland and the requirements of the Companies Act 2006.
The presentation currency of the financial statements is Malaysian Ringgit ("RM"), which is also the functional currency of the Company. Figures are rounded to the nearest RM.
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis. The Company had net liabilities as at 31 December 2023 and a group company has confirmed its intention to make available to the Company adequate resources to continue in operational existence for a period no less than 12 months from the date of signing the financial statements.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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