NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
Popular Baths Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Elstree Gate, Elstree Way, Hertfordshire, United Kingdom, WD6 1JD.
The Company was incorporated on 15 June 2023 and commenced trading on the same date.
The principal activity of the Company for the period was that of providing steam bath facilities.
The Company's functional and presentational currency is £ 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 principal accounting policies have been applied:
At the time of approving the financial statements, the director has a reasonable expectation that the
company will have the continued support from the company's group members and has adequate
resources to continue in operational existence for the foreseeable future. Thus the director continues
to adopt thegoing concern basis of accounting in preparing the financial statements.
Turnover is recognised at the fair value of the consideration received or receivable for the services provided in the normal course of business, and is shown net of valued added tax and other sales related taxes.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
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