WELLS CATHEDRAL PUBLICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Wells Cathedral Publications Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Wells Cathedral Offices Chain Gate, Cathedral Green, Wells, Somerset, BA5 2UE. The financial statements are presented in Sterling, which is the functional currency of the company.
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.
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.
The average monthly number of employees, including directors, during the year was 0 (2022: 0).
The directors are considered to be the key management personnel of the company. The total key management personnel remuneration (excluding pension contributions) paid to any directors in 2023 was £Nil (2022: £Nil).
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Amounts owed by group undertakings
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Related party transactions
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FRS102 does not require disclosure of transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.
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