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EMYG 2024 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
EMYG 2024 Limited is a private company limited by shares incorporated in the United Kingdom and registered in England and Wales. The address of its registered office is The Stanley S. Cohen OBE Centre Shaftesbury Avenue, Kenton, Harrow, England, HA3 0RD
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:
The company was created for managing activities relating to the European Maccabi Youth Games 2024. As the games have now ended, the company is no longer needed and will be wound up after the reporting date. Due to there being no items of note left on the balance sheet, no adjustments are required to the financial statements to reflect the fact that financial statements are not prepared on a going concern basis.
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. The following criteria must also be met before revenue is recognised:
Event income
The company receives income related to registration fees, fundraising and supporters' packages for athletes and teams that participate in international competitions. Income is generally deferred until after the event has taken place.
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