ONE PEAK ADVISERS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
One Peak Advisers Ltd is a private company, limited by shares, incorporated in England and Wales with registration number of 08403558. The registered office is 41 Great Pulteney Street, London, W1F 9NZ.
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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
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The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the forseeable future. The directors and shareholders will continue to provide such financial support as is necessary for the company to meet
its operational expenses for a period of 12 months from the date of approval of the financial statements.
On the basis of their assessment of the company's financial position and resources, the directors believe that the company is well placed to manage its business risks.
The Covid-19 pandemic however has also created significant operational and financial pressures. Having considered the contingency plans in place, the support to businesses announced by the UK Government and having reviewed updated cashflow forecasts, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and hence consider the adoption of the going concern basis in preparing these financial statements is appropriate.
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Foreign currency translation
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Functional and presentation currency
The company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Investments in subsidiaries are measured at cost less accumulated impairment.
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