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HURRICANE RUM COMPANY LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Hurricane Rum Company Limited is a private limited liability company incorporated in England and Wales, with its registered office address at 1 Stephen Street, London, W1T 1AL.
The principal activity of the Company during the year was the supply of spirits. It ceased trading after the year end.
The Company's functional and presentational currency is £ Sterling.
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:
Turnover comprises revenue recognised by the Company in respect of goods dispatched during the year, exclusive of value added tax.
Revenue from the sale of goods is recognised when the goods are dispatched.
Stocks are stated at the lower of cost and net realisable value. Cost is based on the cost of purchase and all related direct costs on a first in, first out basis.
Short term debtors are measured at the transaction price, less any impairment.
Short term creditors are measured at the transaction price.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
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