RECOIL SPRINGS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
The entity is a private company, limited by shares, incorporated in England and Wales in the United Kingdom. The registered office is 6th Floor, 2 London Wall Place, London, EC2Y 5AU. The principal activity of the company is that of a holding company.
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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.
The financial statements are presented in sterling, the functional currency of the company, rounded to the nearest £1
.
Recoil Springs Holdings Limited is the parent company of a small group. It is not required to prepare and it has not prepared consolidated financial statements. These financial statements are those of the company, not the group.
The following principal accounting policies have been applied:
Investments in subsidiaries are measured at cost less accumulated impairment.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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The average monthly number of employees, including directors, during the year was
1
(2018 -
1
)
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Investments in subsidiary companies
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