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WOOLDRIDGE CONSTRUCTION LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2020
Wooldridge Construction Limited is a private limited company limited by shares, registered in England and Wales. The address of its registered office and principal place of business is disclosed on the company information page.
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.
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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);
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Panther 1919 Limited as at 31 January 2020 and these financial statements may be obtained from Companies House.
The coronavirus pandemic is creating significant uncertainty globally and the Company is not immune to this.
The directors are working to maintain the continuity of their operations as far as they are able, whilst adhering
to Government advice. Whilst the pandemic will have a financial impact on the Company, the directors have
taken relevant measures to ensure they are able to safeguard cashflow and jobs.
The Directors of the company and the parent undertaking, Panther 1919 Limited are satisfied that the company and the group are a going concern. The company participates in a group treasury function available to all subsidiary undertakings and therefore has access to the funds required to pay its creditors as they fall due. As a result, the Directors of the company continue to prepare the accounts on the going concern basis.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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Amounts owed by group undertakings
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