The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2 Reporting period
The financial statements are for the period 15 Jan 2025 to 30 April 2026, being the first period from incorporation.
2.3 Going concern
The directors have prepared the financial statements on the going concern basis. The directors have considered the company's financial position and cash flow requirements and are satisfied that the company has adequate resources to continue in operational existence for the foreseeable future.
2.4 Investment
Investments in subsidiary undertakings are stated at cost less accumulated impairment losses.
2.5 Debtors
Short-term debtors are measured at the transaction price, less any impairment.
2.6 Creditors
Short-term creditors are measured at the transaction price.
2.7 Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102.
Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price and subsequently measured at amortised cost where appropriate.
Basic financial liabilities, including trade creditors and amounts due to related parties, are initially recognised at transaction price and subsequently measured at amortised cost.
2.8 Taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other comprehensive income.
Current tax is the amount of corporation tax payable in respect of the taxable profit for the period.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
2.9 Share capital
Ordinary share capital is recognised at the proceeds received or receivable. Incremental costs directly attributable to the issue of shares are recognised as a deduction from equity.