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11086078
31 December 2024
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INTECHOPEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Intechopen Limited (the 'Company') is a private company limited by shares incorporated in England and Wales. The Company's registered number is 11086078. The address of the Company's registered office is 167-169 Great Portland Street, 5th Floor, London, England, W1W 5PF.
The principal activity of the Company during the year was to publish journals and books within the field of science. Additionally, the purpose of the entity is to maintain a UK brand image for the group.
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 the Republic of Ireland and the Companies Act 2006.
The financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the Company operates and are rounded to the nearest Pound.
The following principal accounting policies have been applied:
The Company is deemed to be a going concern and therefore the accounts have been prepared on the going concern basis. The director and parent company will pay liabilities as they fall due and fulfil negative reserves through the continued provision of cash injections. On the basis of the above, the shareholders consider the Company to be a going concern for the foreseeable future.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in normal course of business, net of discounts, VAT and other sales related taxes. Turnover is recognised over the service period when earned and realisable. This is therefore subject to a degree of judgement and estimation. Where the outcome of a transaction is unable to be estimated reliably, no profit is recognised.
Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of turnover can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
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