|
|
|
NGP Management Company (Cell E) Limited
|
Notes to the financial statements
for the year ended 31 December 2020
The company is a private company limited by shares, incorporated and domiciled in the United Kingdom. The registered office is Citygate, St James' Boulevard, Newcastle Upon Tyne, NE1 4JE.
2.
Accounting policies
|
|
Basis of preparation of financial statements
|
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:
In light of global events which persist at the date of approval of these financial statements, the directors have taken measures to counter the potential impact of Covid-19 on the company’s operations and the resultant financial impact. Contingency plans have been implemented to mitigate the risk to the business. Whilst the risks in this regard cannot be completely mitigated and therefore some level of future uncertainty remains, the directors have adopted measures and assessed the financial implications of associated factors outside their control and do not consider the residual uncertainties to be material to the company’s ability to continue meeting its liabilities as they fall due in the foreseeable future.
Turnover comprises revenue recognised by the company in respect of services rendered during the year, exclusive of Value Added Tax.
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, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
|
|
|
The company has no employees other than the directors, who did not receive any remuneration (2019 - £Nil).
|
3
|