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Stellar Entertainment Development Limited
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Notes to the Financial Statements
For the year ended 31 October 2023
Stellar Entertainment Development Limited is a company limited by shares and incorporated in Northern Ireland. The registered office is 12-15 Donegall Square West, Belfast, Northern Ireland, BT1 6JH. The principal activity of the company is the production of entertainment software.
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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The financial statements are presented in Sterling (£).
The following principal accounting policies have been applied:
The director has assessed that there are adequate resources to meet the ongoing costs of the business
for a minimum of 12 months from the date of signing the financial statements. For this reason the
financial statements have been prepared on a going concern basis which presumes the realisation of
assets and liabilities in the normal course of business.
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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