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REOLINK UK INNOVATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Reolink UK Innovation Limited ('the company') is a private limited by shares and is incorporated in England. The address of its registered office is First Floor, 10-11 Austin Friars, London, England, EC2N 2HG. The principal activity of the company is sales of telecommunication and technology. The company was incorporated on 10 October 2023 and commenced to trade on that date.
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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS102 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 shows net current liabilities at the balance sheet date of £9,152.
The company has received formal confirmation from the parent company Reolink Innovation Limited that the company will receive the financial support it requires to enable it to meet its liabilities as they fall due.
The director has a 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.
In making his assessment of going concern, the director has considered information for a period
of at least twelve months from the date the financial statements were authorised for issue.
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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.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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