ALPHA MD LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
Alpha MD Limited is a private limited company incorporated in England and Wales within the United Kingdom. The address of the registered office is given in the company's information page of these financial statements. The company's functional and presentational currency is GBP and the financial statements are rounded to the nearest £.
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
.
The following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The
Company
, and the
Group
headed by it, qualify as a small group as set out in
section 383 of the Companies Act 2006
and the parent and
Group
are considered eligible for the exemption to prepare consolidated accounts.
These financial statements have been prepared on the going concern basis. The company made a loss of £63,432 (2020: £98,391) in the year and had net liabilities of £161,322 (2020: £97,890). The company's shareholder has indicated that they will provide financial support to ensure the company can continue to trade for the foreseeable future and that they have the means to do so. On this basis, the director considers it appropriate to continue to prepare the financial statements on the going concern basis.
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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