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Henry F. Teichmann Europe Ltd
Notes to the Financial Statements
For the Year Ended 31 March 2025
Henry F. Teichmann Europe Ltd is a private company limited by shares and incorporated in England and Wales. The address of the registered office is 3 Stockport Exchange, Stockport, Cheshire, United Kingdom, SK1 3GG. The company's registered number is 10833866.
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 director has reviewed the performance of the Company during the year as set out in these accounts and, after taking account of possible changes that can reasonably be envisaged in trading performance, has considered the cash flow forecasts and future liquidity requirements of the Company.
At 31 March 2025, the company had net liabilities of £187,133 (2024: £112,770), this includes amounts owed to the parent company, HFT Global LLC, of £180,135 (2024: £115,681). After making enquiries, the director has reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company is in receipt of a letter from HFT Global LLC confirming that it will provide any necessary funding to ensure that the Company has sufficient funding to meet its liabilities as they fall due for a period of not less than 12 months from the date of the signing of these financial statements and that it will not call in its debt until there are sufficient funds in the Company to do so.
The director believes it is appropriate, therefore, to prepare the financial statements to 31 March 2025 on a going concern basis.
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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.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
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