|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Arley & Co Limited is a limited Company incorporated in England and Wales, with its registered office address at 46 Woodstock Road, Grassroots, Oxford, United Kingdom, OX2 6HT.
The principal activity of the Company during the year was that of a media production services.
The financial statements are presented in £ sterling, which is the functional currency of the Company.
2.Accounting policies
|
|
|
Basis of preparation of financial statements
|
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 made a loss for the year and at the balance sheet date has net current liabilities and net liabilities. The Director has obtained assurance from the shareholder that funds will be made available to the Company so that it will be able to carry on trading and meet its financial obligations as and when they fall due for at least twelve months from the date the accounts are approved. The accounts have been prepared under going concern basis.
Investments held as fixed assets are shown at cost less provision for impairment.
Development costs and work in progress are valued at the lower of cost and net realisable value.
Production development expenditure is carried forward at cost where considered recoverable against production budgets after the year end. Any amounts relating to projects not expected to progress into
production or not considered recoverable are written off to the profit and loss account.
|
|
|
Basic financial instruments
|
The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Cash and cash equivalents comprise cash balances and call deposits.
|