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SUGAR BEET INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Sugar Beet Investments Ltd is a private company limited by shares and incorporated in England and Wales, registration number 08961176. The registered office is Sugarbeat Eating House, Norwich Road, Swainsthorpe, Norwich, Norfolk, NR14 8PU.
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 financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.
The significant accounting policies applied in preparation of these financial statements are set out below. These policies have been constantly applied to all years presented unless otherwise stated.
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Exemption from preparing consolidated financial statements
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The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
The Director has considered the Company’s position at the time of signing the financial statements. As part of their assessment, they have taken into consideration a number of possible trading performance, profitability and cash flow scenarios. The Director has also considered the Company’s current working capital facilities which continue to be met by financial support from the shareholders, together with the range of measures taken, and may take, to mitigate ongoing costs.
It is envisaged the company will in time, be in receipt of income from its subsidiary. Based on this, the Director has concluded they have a reasonable expectation that the Company will have adequate resources to continue in operational existence for the foreseeable future, being at least twelve months from the date of signing these financial statements, and they therefore continue to adopt the going concern basis of accounting in preparing these financial statements.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Investments in subsidiaries are measured at cost less accumulated impairment.
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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