BALATON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
The principal activity of Balaton Holdings Limited is a that of a holding company.
The company is a private company limited by shares and is incorporated in England and Wales.
The registered office is 96 Morshead Road, London, England, W9 1LG.
2.Accounting policies
|
|
Basis of preparation of financial statements
|
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 following principal accounting policies have been applied:
Total liabilities exceed current assets at the balance sheet date. Having assessed the liquidity position, the director considers the Company to be supported by the shareholder, providing sufficient liquid assets to meet its liabilities as and when they fall due, which is to continue for the next 12 months and beyond. Accordingly, the director considers that it is appropriate to prepare the accounts on a going concern basis.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Investments in non-derivative instruments that are equity to the issuer are measured:
∙at fair value with changes recognised in the Statement of Comprehensive Income if the shares are publicly traded or their fair value can otherwise be measured reliably;
∙at cost less impairment for all other investments.
|
The average monthly number of employees, including directors, during the year was 1 (2022 - 1).
|
|