|
Maxbyte Technologies Ltd
Notes to the financial statements
For the Year Ended 30 September 2024
Maxbyte Technologies Ltd is a company, limited by shares, registered in England and Wales. The company's registration number is 12187711 and has its registered office address at Suite 207 Equitable House 7 General Gordon Square, C/O Mantax Lynton, London, United Kingdom, SE18 6FH.
The presentation currency of the financial statements is the Pound Sterling (£), rounded to the nearest pound.
2.Accounting policies
|
|
|
Basis of preparation of financial statements
|
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.
|
|
|
Cash and cash equivalents
|
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
|
|
Cash and cash equivalents
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|