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00223156
31 December 2024
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COLE & WILSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Cole & Wilson Limited is a private company which is limited by shares. It is incorporated in England and Wales.
Registered office:
Christeyns Uk Ltd
Rutland Street
West Yorkshire
BD4 7EA
The functional currency of the company is Pounds Sterling as this is the currency of the primary economic environment in which the company operates.
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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
To the best of our knowledge there is nothing to indicate that the Company will not continue as a going concern and the financial statements for the year ended 31 December 2024 reflect this going concern basis. Whilst the Company is not expected to trade in the coming year, we do not intend to wind up the company, it will remain dormant for the foreseeable future. The period to which we have paid particular attention in assessing the appropriateness of the going concern basis is not less than twelve months from the date of approval of the financial statements.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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