1. Statutory Information |
THE CRAFTSMEN POTTERS TRADING COMPANY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 02226763. |
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2. Accounting Policies |
Basis of preparing the Financial Statements |
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities.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. |
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Presentation Currency |
The accounts are presented in £ sterling. |
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Turnover |
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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:Sale of goodsRevenue from the sale of goods is recognised when all of the following conditions are satisfied:- the Company has transferred the significant risks and rewards of ownership to the buyer;- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;- the amount of revenue can be measured reliably;- it is probable that the Company will receive the consideration due under the transaction; and- the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
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