ROUTE 24 VOLPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
Route 24 VolpeLimited is a private company limited by shares and registered in England & Wales. The
address of its registered office is 124 Finchley Road, London, NW3 5JS and the principal place of
business is Unit 204, 27/31 Clerkenwell Close, London, EC1R 0AT
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:
Revenue comprises production income.
Production income is recognised in the Statement of Income and Retained Earnings in the period it is contractually due and expended on production and other costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
Tax is recognised in the Statement of Income and Retained Earnings. The current income tax
charge is calculated on the basis of tax rates and laws that have been enacted or substantively
enacted by the reporting date in the countries where the Company operates and generates income.
The Company is eligible to claim a tax credit on production costs; the tax credit comprises relief
based on total net costs and an additional deduction for enhanceable expenditure. The Company
claims a payment based on the amount of enhanced expenditure and carries losses arising from
total net costs forward against future profits.
Short term debtors are measured at the transaction price, less any impairment
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without
penalty on notice of not more than 24 hours.
Short term creditors are measured at the transaction price, less any impairment
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