KENSINGTON THERAPY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
Kensington Therapy Ltd is a private company limited by shares and registered in England & Wales. The address of its registered office is 87 Earls Court Road, London, W8 6EF.
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 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 company's functional and presentational currency is GBP.
The following principal accounting policies have been applied:
The company meets its day to day working capital requirements through its own resources and financial support from its shareholders.
After reviewing the company's forecast and projection the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
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.
Revenue from therapy service is recognised when the service is deemed to have been delivered to customer and, to the extent that, the entity has met its obligation under its service contract.
Revenue from rental of practice facility is recognised in the period in which the income becomes due.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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.
Short term debtors are measured at transaction price, less any impairment.
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