Balance sheet continued

As at 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 December 2024

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Income generated by the company will be allocated and distributed according to the following priorities:
  
  a. Operational Expenses: The first priority is to cover the operational expenses necessary to sustain and grow the business. This includes salaries, rent, utilities, marketing, and other day-to-day costs.
  
  b. Reserve Funds: A portion of income will be set aside to build and maintain financial reserves to safeguard against economic downturns and unforeseen expenses.
  
  c. Investments: Funds may be allocated for investments in research and development, infrastructure, technology, or other areas that align with the company's strategic goals.
  
  d. Shareholders and Owners: After meeting operational needs, investing in the business, and maintaining reserves, income may be distributed to shareholders or owners in accordance with the company's financial and legal obligations.
  

  Tangible fixed assets depreciation policy

  Depreciation is on 10% per annum on reducing balance