|
Notes to the financial statements
Period ended 30 June 2025
Dunamase Limited ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England. The address of the registered office is 2nd Floor College House, 17 King Edwards Road, Ruislip, London, HA4 7AE.
2.Accounting policies
|
|
|
Basis of preparation of financial statements
|
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.
|
|
|
Foreign currency translation
|
The company's functional and presentational currency is Euros.
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in profit or loss within other finance income.
At the balance sheet date the company had excess liabilities over assets. The directors, having made due and careful enquiry, are of the opinion that the company, with the support of its shareholders, has adequate working capital to execute its operations over the next 12 months. The director therefore, has made an informed judgement, at the time of approving the financial statements, that there is reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result, the director has continued to adopt the going concern basis of accounting in preparing the annual financial accounts.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
3
|