EKO TOURING LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Eko Touring LLP is a Limited Liability Partnership incorporated in England and Wales (registered
number: OC424928). The registered Office address of the LLP is 64 New Cavendish Street, London,
W1G 8TB.
The financial statements are presented in Sterling, which is the functional currency of the Limited Liability
Partnership.
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 judgment in applying the LLP's accounting policies.
The following principal accounting policies have been applied:
The members are of the opinion that it will be possible to raise and provide financial support to the LLP, which will have sufficient funds to meet its obligations. Potential source of uncertainity noted by the members is the COVID-19 Pandemic. However at the date of this report, it is not possible to reliably determine the effects that this will have on the LLP. Accordingly the members consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result if the LLP was unable to continue as a going concern.
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Foreign currency translation
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Functional and presentation currency
The LLP'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.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
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