YOU DON'T KNOW ME LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
You Don't Know Me Ltd is a private company limited by shares and registered in England & Wales. The address of its registered office is 71 Queen Victoria Street, London, EC4V 4BE.
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.
The following principal accounting policies have been applied:
At the reporting date the company had net liabilities of £382,341 and meets its day to day working capital requirements through the utilisation of its own funds and loan from its immediate parents undertaking who have confirmed their intention to support the company for the foreseeable future.
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements, but with the provision that a material uncertainty exists over the company's future.
Interest income is recognised in profit or loss using the effective interest method.
Short term debtors are measured at the transaction price, less any impairment.
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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.
Short term creditors are measured at the transaction price, less any impairment.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.
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The average monthly number of employees, including directors, during the year was 0 (2023 - 0).
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