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Notes to the Financial Statements
For the Period Ended 31 March 2023
The company is a private company limited by shares and incorporated in England and Wales. The registered office is 84 Grosvenor Street, London, W1K 3JZ.
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 Republic of Ireland' ('FRS 102') and the Companies Act 2006.
The following principal accounting policies have been applied:
Current asset investments consist of investments held for resale and are measure at cost less accumulated impairment.
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.
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 to related parties and investments in ordinary shares.
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.
Capital contributions are classified as equity and represent funds provided by the company's sole shareholder and are repayable by the company at its sole discretion.
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The Company has no employees other than the directors, who did not receive any remuneration.
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