(a) Basis of preparationThese financial statements, in respect of the first accounting period of the Company from 24 February 2021 to 31 December 2021, are prepared on a going concern basis under the historical cost convention as modified by the revaluation of certain financial assets and liabilities measured at fair value, as described below, and are in accordance with FRS 102 Section 1A and the Companies Act 2006.By applying section 1A, the Company has elected not to prepare a Statement of cash flow. This is the first set of financial statements prepared by the Company.(b) Going concernThe Company has made a loss during the period of £3,691 and is in a net liability of £3,690 at the financial period end. The Directors, having considered the Company's objectives and available resources along with its projected income and expenditure, are satisfied that the Company has adequate resources to continue inoperational existence for the foreseeable future. Accordingly, the Company has adopted the going concernbasis in preparing these financial statements.(c) Foreign currency(i) Functional and presentation currencyThe Company's financial statements are presented in Pound Sterling (£). The Company's functional and presentation currency is the Pound Sterling.(d) Revenue recognitionRevenue includes distribution income.(i) Distribution incomeIncome is measured at fair value of the consideration and represents the amount receivable by way of distribution from the investee entity. Distribution income is recognised when the right to receive payment isestablished.(e) Expense recognitionExpenses are recognised on an accruals basis in the period in which they are incurred.(f) InvestmentThe investment is stated at cost less impairment.(g) Financial instrumentsThe Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.(i) Financial assetsBasic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of future receipts discounted at a market rate of interest.Such assets are subsequently carried at amortised cost using the effective interest method.At the end of each reporting date, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the Statement of comprehensive income.If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not been previously been recognised. The impairment reversal is recognised in the Statement of comprehensive income.Financial assets are derecognised when (a) the contractual rights to the cash flows from the assets expire or are settled, or (b) substantially all the risk and rewards of the ownership of the assets are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.(ii) Financial liabilitiesBasic financial liabilities, including creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.Derecognition of financial liabilitiesA financial liability (in whole or in part) is derecognised when the Company has extinguished its contractual obligations, it expires or is cancelled. Any gain or loss on derecognition is taken to the Statement of comprehensive income.h) Share capitalShare capital are classified as equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds.(i) TaxationCurrent tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the Statement of financial position date.Deferred tax is recognised in respect of all timing differences that have originated but not reversed at theStatement of financial position date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the Statement of financial position date. Timing differences are differences between the Company’s taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.