FOURTH WALL FEP3 LIMITED
Notes to the financial statements
For the year ended 30 September 2024
Fourth Wall FEP3 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Riverview Business Park, Shore Wood Road, Bromborough, Wirral, CH62 3RQ and the company registration number is 13328531.
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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are presented in Sterling which is the functional currency of the company and are stated to the nearest £1.
The following principal accounting policies have been applied:
The company is reliant upon the continuing support of the group to meet its financial obligations as they fall due. The company has received confirmation from the group that this financial support will be provided for a period not less than 12 months from the approval of these financial statements. As such the directors believe the company to be a going concern and the financial statements have been prepared on a going concern basis.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
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.
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.
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The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).
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