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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
The company is a private limited company limited by shares and is incorporated in England under the Companies Act 2006 and registered in England and Wales. The address of its registered office is Millhouse, 32-28 East Street, Rochford, Essex SS4 1DB.
The principal activity is that of provision of bespoke legal due diligence.
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:
During the year the comany as made a loss of £6,477. At the balance sheet date the company had net current liabilities of £11,716. The directors have confirmed they will continue to support the company in meeting it's costs. The directors have considered a period exceeding 12 months from the date of approval of these financial statements, and has reasonable expectation that the company is a going concern, and therefore has adopted this basis in the preparation of these Financial Statements.
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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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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 average monthly number of employees, including directors, during the year was 2 (2023 -2).
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