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JIMMY WALES FOUNDATION
(A Company Limited by Guarantee)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020
Jimmy Wales Foundation is a limited liability company incorporated in England and Wales with its registered office at PO Box No 225, 15 Ingestre Place, London W1F 0DU.
The principal activity of the company was that of aiming to fight against human rights violations in the field of freedom of expression, particularly online.
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
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The following principal accounting policies have been applied:
The financial statements have been prepared on the assumption that the company is able to carry on
business as a going concern. The director will continue to support the company by way of loans as necessary to enable it to continue trading for the forseeable future.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Short term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.
Short term creditors are measured at the transaction price.
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The average monthly number of employees, including directors, during the year was
1
(2019 -
2
)
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