NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
M3 Fundraising Limited is a private company, limited by shares, registered in England and Wales. The address of the registered office is given in the company information page of these financial statements. The company's place of business is Marlow International, Parkway, Marlow, Buckinghamshire, SL7 1YL.
The company was incorporated on the 3 July 2023. As a result this is the company's first set of accounts which represents a 6 month period from incorporation to 31 December 2023.
The presentation currency of the financial statements is the Pound Sterling (£).
The significant accounting policies applied in the preparation of these financial statements are set out below.
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 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 generated through fundraising campaigns for Charities and organisations, and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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.
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