Notes to the financial statements
For the year ended 5 April 2024
Engage Orion Limited is a private company limited by shares and incorporated in England and Wales. Its registered office address is C/O Buzzacott LLP, 130 Wood Street, London, EC2V 6DL and its registered number is 14319489. The principal place of business is Flat 2, 20 Earlham Street, Covent Garden, WC2H 9LG.
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 Section 1A of Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.
The following principal accounting policies have been applied:
At the reporting date, the company's liabilities exceeded its assets. The company has received assurance from
its shareholders that they will continue to give financial support to the company for a period of at least
twelve months from the date of approval of these financial statements, sufficient to enable the company to
meet its liabilities as and when they fall due for the foreseeable future and defer repayment of any amounts
owed to them in favour of other creditors.
On this basis the director considers it appropriate to prepare the financial statements on a going concern
basis. However should the financial support mentioned above not be forthcoming, the going concern basis
used in preparing the company's financial statements may be invalid and adjustments would have to be
made necessary should this basis not continue to be appropriate.
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Operating leases: the company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Short-term debtors are measured at transaction price, less any impairment.
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. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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