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FREUD HOSPITALITY GROUP LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Freud Hospitality Group Limited is a private company, limited by shares, incorporated in England and Wales. Its business and registered office address is 1 Stephen Street, London, W1T 1AL.
The principal activity of the Company is that of a holding company.
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:
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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 Company made a loss for the year and at the reporting date had current and net liabilities respectively. The ultimate controlling party has confirmed to the directors that he has the ability and will financially support the Company as and when required so that the Company will be able to continue to meet its financial obligations as and when they fall due for at least twelve months from the date the financial statements are approved.
Furthermore, connected creditors have confirmed they will not demand repayment of the balances, or any part, due to them which may affect the Company's liquidity position.
Therefore, the directors believe that preparing the financial statements as a going concern is appropriate, and there are no material uncertainties which may cast significant doubt over the Company's ability to continue as such.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term debtors are measured at the transaction price, less any impairment.
Short term creditors are measured at the transaction price.
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