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THE ARMSTRONG CENTRE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2023
The Armstrong Centre Company Limited is a company with limited liability by shares incorporated in England and Wales company number 02021951.
The address of its registered office is Democratic Services Division, Newcastle City Council, Newcastle upon Tyne, Tyne and Wear, NE99 2BN.
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.
The following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
The company has been financed through the capital introduced by its shareholders and by profits generated by its subsidiary. The company's only activity is to act as a conduit passing dividends from the subsidiary to the ultimate shareholders. The subsidiary's forecasts show that it will continue to generate profits and the directors consider it appropriate to prepare the financial statements of this company on the going concern basis.
Investments in subsidiaries are measured at cost less accumulated impairment.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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The average monthly number of employees, including directors, during the year was 4 (2022 - 4).
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