The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
In preparing these financial statements, the Company applies the recognition, measurement and disclosure requirements of International Financial Reporting Standards as adopted by the EU (“Adopted IFRSs”), but makes amendments where necessary in order to comply with Companies Act 2006 and has set out below where advantage of the FRS 102 Section 1A disclosure exemption has been taken.
The Company’s ultimate parent undertaking, SGO Corporation Limited includes the Company in its consolidated financial statements. The smallest group into which the accounts of the company are consolidated is SGO Corporation Limited. Copies of these consolidated accounts may obtain from its registered office at 88 Baker Street, London, W1U 6TQ.
In these financial statements, the company has applied the exemptions available under FRS 102 Section 1A in respect of the following disclosures:
• A cash flow statement and related notes;
• Disclosures in respect of transactions with wholly owned subsidiaries.
• Disclosures in respect of capital management
• Disclosures of transactions with a management entity that provides key management personnel services to the company.