DENT SPA EXPERT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Dent Spa Expert Limited is a private company limited by shares and registered in England & Wales. The address of the registered office and principal place of business is Unit 5, Hampstead West, 224 Iverson Road, London, England, NW6 2HL.
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:
During this initial period, the company secured financing for its new business premises and equipment, etc. Trading commenced towards the end of the period.
These financial statements are prepared on the basis that the conpany will continue in operational existence for the foreseeable future on the basis of the continuing support of its lenders.
The company's functional and presentational currency is GBP.
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, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Turnover is recognised at the point of delivery of services to customers.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
All borrowing costs are recognised in the Statement of Income and Retained Earnings in the period in which they are incurred.
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