WILDERNESS TRAVEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
The Company is a private company limited by shares and is incorporated in England. The address of the Company's principal place of business, being different to the registered office stated on the Company Information page, is:
Unit 3
Dalfaber Drive
Aviemore
Highland
Scotland
PH22 1ST.
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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
Group management and the Directors review the financial position and financial projections of the Group on a regular basis. Sensitivity analysis suggests the Group has adequate liquidity to trade through all reasonable scenarios envisaged by the Directors, including the potential for a downturn in trading. The Directors therefore conclude that it is appropriate to prepare the financial statements on a going concern basis.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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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