LOTTIE BEAR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Lottie Bear Limited (company number: 07357783), having its registered office at St Olave's House, Ironmonger Lane, London, EC2V 8EY, is a private limited company incorporated in England and Wales.
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 in accordance with Financial Reporting Standard 105, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
These accounts are prepared in accordance with Financial Reporting Standard 105 and therefore the Company is not required to produce a Statement of Cash Flows.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding value added tax.
Investment property is measured at cost less accumulated impairment. No depreciation is provided.
Investments in subsidiaries are measured at cost less accumulated impairment.
Tax is recognised in the Profit and Loss Account. The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the United Kingdom where the Company operates and generates income.
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The average monthly number of employees, including the directors, during the year was as follows:
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