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WATSONS OF SALISBURY (HOLDINGS) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Watsons of Salisbury (Holdings) Ltd is a company limited by shares and incorporated in England and Wales, registered number 01935094. The registered office is Crown Chambers, Bridge Street, Salisbury, SP1 2LZ.
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:
The directors assess whether the use of going concern basis is appropriate, i.e. whether there are material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements. At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future.
The COVID-19 pandemic has had no financial impact on the company in the year to 31 December 2020. The directors have carefully considered the financial impact so far as possible and are comfortable that this does not affect the company's ability to continue as a going concern.
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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.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short term debtors are measured at transaction price, less any 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
2
(2019 -
2
)
.
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