3 Accounting policies
Basis of preparation
The
abridged financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
abridged financial statements
are prepared in sterling, which is the functional currency of the company.
Income Statement
The company is dormant as defined in section 1169 of the Companies Act 2006. The company incurred no significant transactions during the current year.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.