|
|
|
HANNS-SEIDEL-STIFTUNG UK LTD
(A Company Limited by Guarantee)
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Hanns-Seidel-Stiftung UK Limited is a private company limited by guarantee incorporated in England and Wales. The address of its registered office is 42 Essex Street, London, United Kingdom, WC2R 3JF.
The financial statements are presented in Sterling (£), which is the functional current of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.Accounting policies
|
|
Basis of preparation of financial statements
|
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:
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. The company receives funding from its parent, Hanns-Seidel-Stiftung E.V., which in turn receives funding from the German Foreign office. The parent has confirmed that it will continue to support the company for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
Revenue comprises grants receivable from the company's parent, which are accounted for on an accruals basis. Grants of a revenue nature are recognised in the profit and loss account in the same period as the related expenditure.
Short-term debtors are measured at transaction price, less any impairment.
Short-term creditors are measured at the transaction price.
|