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International Forum of Senior Executive Advisers Limited
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Notes to the financial statements
For the year ended 31 March 2025
International Forum of Senior Executive Advisers Limited is a private company limited by shares, incorporated in England and Wales. Its company registration number is 12489182. The registered office and its principal place of business is 36-38 Cornhill, First Floor, London, EC3V 3NG.
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 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.
The following principal accounting policies have been applied:
At the reporting date, the company's liabilities exceeded its assets. The company has received assurance from its parent company that it will continue to give financial support to the company for a period of at least
twelve months from the date of approval of these financial statements, sufficient to enable the company to
meet its liabilities as and when they fall due for the foreseeable future and defer repayment of any amounts
owed to them in favour of other creditors.
On this basis the directors consider it appropriate to prepare the financial statements on a going concern
basis. However should the financial support mentioned above not be forthcoming, the going concern basis
used in preparing the company's financial statements may be invalid and adjustments would have to be
made necessary should this basis not continue to be appropriate.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Short-term debtors are measured at transaction price, less any impairment.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short-term creditors are measured at the transaction price.
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