|
|
|
TALENT RESOURCES MANAGEMENT LTD
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023
Talent Resources Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is 20 Ladbroke Square, London, W11 3NA.
The company was incorporated on 3 May 2022 and commenced trading on the same date.
The principal activity of the company is that of media representation services.
2.Accounting policies
|
|
Basis of preparation of financial statements
|
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 financial statements of the company have been prepared on a going concern basis, the validity of which is dependant on the continued support of the director of the business. The director is satisfied that suitable facilities will continue to be made available for at lleast twelve months from the date of his approval of these financial statements and that the company will be able to meet its working capital requirements for the foreseeable future.
|
|
Foreign currency translation
|
Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
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:
|