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CAKE & TEA CONSTRUCTION LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Cake & Tea Construction Ltd is a private company, limited by shares, and incorporated in England and Wales. The Company's registered number is 15276365 and registered office address is 10 Queen Street Place, London, United Kingdom, EC4R 1AG.
The Company was incorporated on 10 November 2023 and commenced trading on the same date.
The principal activity of the Company is construction.
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 following principal accounting policies have been applied:
The Company is a wholly owned subsidiary within Inception Ventures Group Limited, and provides contracting services to other subsidiaries within the Group.
All costs incurred by the Company are fully recharged to those subsidiaries. As a result, the Company does not generate a profit or incur a loss from its operations. Based on this, the financial statements have been prepared by the directors on a going concern basis.
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.
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