NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Harrold Holdings Limited is a private limited company, limited by shares and incorporated in England, United Kingdom. The address of the registered office and company registration number is given in the company information of these financial statements.
2.Accounting policies
|
|
Basis of preparation of financial statements
|
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.
All amounts have been rounded to the nearest £1.
The following principal accounting policies have been applied:
|
|
Exemption from producing consolidated group accounts
|
The company is exempt from the requirment to prepare consolidated financial statements as all of its subsidiaries are subject to the small companies regime.
|
|
Foreign currency translation
|
Functional and presentation currency
The Company's functional and presentational currency is Sterling.
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.
|