FIBRE OPTIC SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Fibre Optic Solutions Limited is a private company limited by shares incorporated in England and Wales, registration number 08519117. The registered office is 2 Mile Oak, Maesbury Road, Oswestry, Shropshire, SY10 8GA.
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:
The company is reliant upon the ongoing support of companies under common control. The director is confident that the support necessary for the company to meet its obligations as they fall due will be forthcoming for the foreseeable future, being a period of at least 12 months from the approval of these financial statements. Accordingly, the director considers it appropriate to prepare these financial statements on the going concern basis.
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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The average monthly number of employees, including directors, during the year was 2 (2022 - 2).
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