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BROWNLOW HOLDINGS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Brownlow Holdings Limited is a private company, limited by shares, incorporated in England and Wales, registration number 02767564. The registered office is 6th Floor, 2 London Wall Place, London, EC2Y 5AU.
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 financial statements are presented in sterling, the functional currency, rounded to the nearest £1.
Brownlow Holdings Limited is the parent company of a small group. It is not required to prepare and has not prepared group accounts. These financial statements are the statements of the company, not the group.
At 31 March 2023 the company had net current liabilities of £14,041 (2022: £14,041) and total liabilities of £13,941 (2022: £13,941). The financial statements have been prepared on a going concern basis as the director has confirmed his willingness and ability to support the company for at least 12 months from the date of approval of the financial statements.
The following principal accounting policies have been applied:
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Valuation of unlisted investments
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Investments in subsidiaries are measured 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.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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.
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