TAURUS RE CAPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
Taurus RE Capital Limited is a private limited company incorporated in England with the company number 14816127. The accounts are first year accounts for the period from incorporation, 20 April 2023 to the reporting date, 31 December 2023.
The Company's registered office is 10 Queen Street Place, London, United Kingdom, EC4R 1AG.
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 following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The company and its parent company have taken advantage of the option not to prepare consolidated financial statements contained in Section 383 of the Companies Act 2006 on the basis that they comprise a small group.
The financial statements have been prepared on the going concern basis. The company is in a net deficit position and is reliant on its immediate parent company for financial support. The directors are confident this support will continue for a period of at least another 12 months following the approval of these financial statements.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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