GISAMARUK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
Gisamaruk Ltd is a private company limited by shares and incorporated in England & Wales. The registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The Company was incorporated on 8 November 2022 and commenced trading on that date.
The financial statements are presented in Sterling, which is the functional currency of the Company.
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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The financial statements have been prepared on the going concern basis. The company is
dependent on the director and shareholder for financial support, which the director is confident will
continue for a period of at least another 12 months following the approval of these financial
statements.
As at 31 December 2023, the company had net liabilities of £155,299. The director and shareholder has indicated the present intention to provide adequate finance to enable the company to continue in
operational existence, and on this basis the director considers it appropriate to prepare the financial
statements on the going concern basis.
The financial statements do not reflect any adjustments that would result from a withdrawal of
financial support by the director and shareholder.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
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