NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
16CS Holding Ltd is a private limited liability company registered in England and Wales. Its registered office address is at 2nd Floor Connaught House, 1-3 Mount Street, London, W1K 3NB.
The principal activity of the company during the period was that of a holding company.
The functional and presentational currency of the company was £ sterling.
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 following accounting policies have been applied.
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Exemption from preparing consolidated financial statements
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The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
At the reporting date the company had net current liabilities of £1,000. After the reporting date, on 2 April 2024, the company issued new share capital for consideration of £4,810,668 which is sufficient for the company to meet its financial obligations as and when they fall due for at least twelve months from the date the accounts are approved. The accounts have therefore been prepared under the going concern basis.
Investments in subsidiaries are measured at cost less accumulated impairment.
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Basic financial instruments
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Basic financial instruments include trade and other debtors, trade and other creditors, cash and bank balances and related party loans.
Trade and other debtors are recognised initially at the transaction price less attributable transaction
costs. Trade and other creditors are recognised initially at transaction price plus attributable
transaction costs. Subsequent to initial recognition they are measured at amortised cost using the
effective interest method, less any impairment losses in the case of trade and other debtors. If the
arrangement constitutes a financing transaction, for example if payment is deferred beyond normal
business terms, then it is measured at the present value of future payments discounted at a market
rate of interest.
Cash and cash equivalents comprise cash balances and call deposits.
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