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Waverley Abbey Trading Limited
Notes to the financial statements
For the year ended 31 August 2025
Waverley Abbey Trading Limited is a private limited company registered in England and Wales, registration number 07818060. The registered office is Waverley Abbey House, Waverley Lane, Farnham, Surrey, GU9 8EP. The principal activity of the company in the year under review was that of providing conferencing facilities at the site owned by its parent 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and 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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Financial Reporting Standard 102 - reduced disclosure exemptions
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The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).
This information is included in the consolidated financial statements of Waverley Abbey Trust as at 31 August 2025 and these financial statements may be obtained from Waverley Abbey House, Waverley Lane, Farnham, Surrey GU9 8EP.
Waverley Abbey Trading Limited are reliant on Waverley Abbey Trust (its parent entity) to continue to trade. Waverley Abbey Trust’s financial statements have been prepared on a going concern basis. The trustees of Waverley Abbey Trust have carefully considered the forecasts for the next twelve months and are of the opinion that with the financing in place, Waverley Abbey Trust can meet its liabilities for at least twelve months from the date of signing.
Revenue 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. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Company has transferred the significant risks and rewards of ownership to the buyer;
∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
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