HAWKSLEA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022
Hawkslea Limited is a private company limited by shares and incorporated and domiciled in England. The address of the registered office is Rutland House, 148 Edmund Street, Birmingham, B3 2FD. Its principal place of business is 2 Woodcrest, Marine Drive, Looe, PL13 2DQ.
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:
The company is dependent upon the financial support of its directors. The directors of the company have provided assurances that they will continue to provide the financial support necessary to enable the company to continue in operational existence for the foreseeable future. Accordingly,these financial statements have been prepared on the going concern basis.
Work in progress is valued at the lower of cost and net realisable value. Cost includes all direct costs.
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.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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 average monthly number of employees, including directors, during the year was 3 (2021 - 3).
|
|