|
|
|
|
Westbrooke Manco UK Limited
|
Notes to the Financial Statements
For the period ended 30 June 2025
Westbrooke Manco UK Limited ('the company') is a private company limited by shares and incorporated in England and Wales. The registered office of the company is 17 Portland Place, Marylebone, London, W1B 1PU. The registered number of the company is 16020701.
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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.
The following principal accounting policies have been applied:
The company currently has access to sufficient financial resources and is expected to continue generating recurring income in the ordinary course of business, which is anticipated to be sufficient to meet its expenses and obligations as they fall due.
The directors note that financial support would be available from Galataria Holdings Limited, the company's immediate parent undertaking, should it be required.
Accordingly, the financial statements have been prepared on a going concern basis.
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 rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
Page 2
|