CHISWELL (MOORGATE) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
Chiswell (Moorgate) Limited ("the company") is a limited company domiciled and incorporated in England.
The registered office and place of business is at Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS.
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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
Monetary amounts in these financial statements are stated in pounds sterling and are rounded to the nearest whole £1, except where otherwise indicated.
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.
At 31 March 2019 the company had net current liabilities of £995,183. These arise primarily from a loan issue to the company as described in note 7. The issuer of the loan has confirmed they will not recall the loan for repayment until the financial circumstances of the company allow it to and not within the next 12 months.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short term debtors are measured at transaction price, 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, and loans from related parties.
Short term creditors are measured at the transaction price.
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