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CARBON13 (CLG) LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Carbon13 (CLG) Limited (the "Company") is a private company limited by guarantee and incorporated in England and Wales. Its registered office is Salisbury House, Station Road, Cambridge, CB1 2LA.
The Company's functional and presentational currency is GBP.
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 directors have a reasonable expectation the the Company has adequate resources to continue in operational existence for the foreseeable future. In making this assessment the directors have considered the Company's financial resources at the time of approving the financial statements, as well as anticipated future activity and financial results.
During the period the pressures of rising inflation and subsequent general economic downturn has so far not negatively impacted the Company. The directors have assessed the Company's liquidity requirements and are confident sufficient working capital is available to honour its existing contracts.
On the basis of this review and given the positive cash position at the Balance Sheet date the directors believe they are well placed to manage the Company's business risks successfully in the current economic climate and emain satisfied that the going concern assessment is 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.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
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