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Notes to the financial statements
For the period ended 30 September 2024
The company is a private company limited by shares and incorporated in England and Wales. The registered office of the company is 6th Floor One London Wall, London, EC2Y 5EB. Its registered number is 15109286.
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 Republic of Ireland' ('FRS 102') and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.
The following principal accounting policies have been applied:
The following principal accounting policies have been applied:
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance
from its directors that they will continue to give financial support to the company for a period of at least twelve months from the date of signing of these financial statements.
On this basis, the directors considers it appropriate to prepare the financial statements on a going concern
basis. However, should the financial support mentioned above not be forthcoming, the going concern basis
used in preparing the company's financial statements may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amounts and to provide for any liabilities which might
be necessary should the basis not continue to be appropriate.
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Foreign currency translation
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Functional and presentation currency
The company's functional and presentational currency is GBP.
Short-term debtors are measured at transaction price, less any impairment.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short-term creditors are measured at the transaction price. Other financial liabilities 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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