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UNDERBOBO COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Underbobo Company Ltd is a private company limited by shares and registered in England and Wales. The address of its registered office is 124 Finchley Road, London, NW3 5JS.
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.
After reviewing the company's forecasts and projections, the director has reasonable expectation
that the company has adequate resources to continue in operational existence for the foreseeable
future. The company therefore continues to adopt the going concern basis in preparing its financial
statements.
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:
Short-term debtors are measured at transaction price, less any impairment.
Short-term creditors are measured at the transaction price.
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The average monthly number of employees, including directors, during the year was 1 (2023 - 1).
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