Amaazing Limited
Notes to the financial statements
For the year ended 31 December 2023
Amaazing Limited is a limited company incorporated and domiciled in the United Kingdom. The address of its registered office and principal place of business are disclosed on the company information page. The company provides photography and video services.
2.Accounting policies
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 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:
The financial statements have been prepared on a going concern basis. This conclusion that going concern is the most appropriate basis is made in light of the company having net current assets of £152,974 (2022: £240,075) and cash on hand £383,028 (2022: £340,622) at the balance sheet date.
The assessment that the going concern basis is most appropriate for preparing the accounts has taken into consideration follows the company’s future trading prospects, its working capital requirements and cashflows.
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Amaazing Limited
Notes to the financial statements
For the year ended 31 December 2023
2.Accounting policies (continued)
Depreciation is provided on the following basis:
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Amaazing Limited
Notes to the financial statements
For the year ended 31 December 2023
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Balance sheet.
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Amaazing Limited
Notes to the financial statements
For the year ended 31 December 2023
2.Accounting policies (continued)
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Amaazing Limited
Notes to the financial statements
For the year ended 31 December 2023
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Amaazing Limited
Notes to the financial statements
For the year ended 31 December 2023
The controlling party is M E Testino. Awesome Holdings Limited (incorporated in Isle of Man) is regarded by the director as being the company's ultimate parent company.
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