NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
RB1 Investments Limited is a private limited liability company incorporated in England and Wales with its registered office and trading address at 70 Cadogan Place, London, SW1X 9AH.
The principal activity is that of an investment company.
The functional and presentational currency of the Company is $ USD.
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.
The financial statements have been prepared on a going concern basis which assumes the continued financial support of the principal shareholders. In the opinion of the directors, the company will continue to receive such financial support as may be required to enable it to meet its liabilities for at least 12 months following the date of their approval of the financial statements and on this basis the directors have prepared the financial statements on a going concern basis.
Turnover comprises revenue recognised by the company in respect of services supplied, exclusive of
Value Added Tax.
Revenue for the provision of services is recognised in the period in which services are provided.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Short-term debtors are measured at transaction price, 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.
Short-term creditors are measured at the transaction price.
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