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HUMAN 3 LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
The company is a private company limited by shares incorporated in England and Wales. The address of its registered office is: 20 Gracechurch Street, London, England, EC3 9DH. The financial statements are prepared in GBP ("£") which is the functional and presentational currency of the primary economic environment in which the company operates.
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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The financial statements have been prepared on the going concern basis of accounting. As at 30 June 2025 the Company had net liabilities of £289,309, substantially all of which represents an intercompany loan balance owed to a group company. The lender has confirmed that it does not intend to seek repayment of the intercompany balance for a period of at least twelve months from the date of approval of these financial statements, and will continue to provide such financial support as is necessary to enable the Company to meet its liabilities as they fall due. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
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