LICTOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Lictor Limited ("the company") is a private company limited by shares, incorporated in England and Wales. Its registered number is 09379787. The registered office is Leytonstone House, Leytonstone, London, E11 1GA.
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 a going concern basis.
The whole of the company's income consists of investment income and interest receivable, as described in Notes 2.4, 2.8 and 2.9 below.
Investments in unlisted shares whose market value cannot be reliably determined are stated at historic cost less impairment and classified within fixed asset investments.
Investments in fixed term deposits, where the date of maturity is over three months from the date of acquisition, are stated at fair value and classified within current asset investments.
Short term investments in shares which are publicly traded, or whose fair value can otherwise be measured reliably, are stated at fair value and classified within fixed asset investments.
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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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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.
Short term creditors are measured at the transaction price.
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