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DIPSTICKS RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025
Dipsticks Research Limited is a private limited company limited by shares and incorporated in England & Wales with company registration number 03752827. The registered office is located at Northern Design Centre Design Activity Ground Floor, Abbots Hill, Baltic Business Quarter, Gateshead, Tyne & Wear, NE8 3DF.
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 financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
The following principal accounting policies have been applied:
The company has net current assets as disclosed on the balance sheet and remains profitable. At the time of approving the financial statements and after giving due consideration to the possible effects of the COVID-19 pandemic, the directors have a reasonable expectation that the company will have adequate resources to continue to trade for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis when preparing the annual report and accounts.
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:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Interest income is recognised in profit or loss using the effective interest method.
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