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Stellar Interactive Limited
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Notes to the financial statements
For the period ended 30 April 2024
Stellar Interactive Limited is a company limited by shares and incorporated in Northern Ireland. The registered office is 12-15 Donegall Square West, Belfast, Northern Ireland, BT1 6JH.
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 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 judgement in applying the Company's accounting policies (see note 3).
The financial statements are presented in Sterling (£).
The following principal accounting policies have been applied:
The company has made a loss of £1,091 (2023: £Nil as dormant) during the period, and has net liabilities of £991 as at 30 April 2024 (2013: net assets of £100). The company meets its working capital requirements through financial support from the director and is dependent on this continuing support. The directors are confident the support will continue to be made available to allow the company to trade for the foreseeable future. On this basis these financial statements therefore continue to be prepared on the going concern basis.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, 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. 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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