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VIOLET DREAMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 19 DECEMBER 2024
Violet Dreams Limited is a private company limited by shares and incorporated in England and Wales. The address of its registered office and principal place of business is 14 Bonhill Street, London, United Kingdom, EC2A 4BX.
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:
Due to the winding down of operations and the intended strike-off, the company is no longer considered a going concern. As a result, the company’s financial statements have been prepared on a break-up basis, with assets recorded at their realisable values.
Revenue comprises distribution revenue receivable and is recognised in the Statement of income and Retained earnings in the period it is contractually due.
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.
The Company only enters into basic financial instruments transactions that result in the recognition
of financial assets and liabilities like trade and other debtors and creditors and loans from other third
parties.
Short term creditors are measured at the transaction price.
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