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ADVANTAGE TESTING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Advantage Testing UK Limited (Company no: 08670409) is a private company limited by shares, which is incorporated and registered in England and Wales. The registered office is 32 Portland Terrace, Newcastle upon Tyne, NE2 1QP. The principal place of business is 4/4a Bloomsbury Square, London, Greater London, WC1A 2RP.
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 financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.
The following principal accounting policies have been applied:
At the time of approving these financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operating existence for the foreseeable future.
The company is dependent on the continued support from the parent company who have confirmed that they will continue to support the company for a period of at least 12 months from the date of signing these financial statements. The director believes that they have sufficient resources to be able to provide this support.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue is recognised at the point at which the Company has fulfilled its contractual obligations to the customer.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Interest income is recognised in profit or loss using the effective interest method.
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