NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2021
Sinephro Records Ltd is a private company, limited by shares, registered in England and Wales, registration number
12578041
. The registered office address is 4th Floor, 20-22 Great Titchfield Street, London, W1W 8BE.
The company was incorporated on 29 April 2020 and commenced trading on the same date.
The principal activity of the company is music production and performance.
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 the Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
.
The director is assessing, on a daily basis, the impact of the significant uncertainty arising from the COVID-19 virus. The director appreciates there is significant uncertainty surrounding the future economic climate. The director has reviewed the financial circumstances of the company and confirms that she will support the company as necessary for at least 12 months from the balance sheet date. The director is satisfied that the company will be able to satisfy its financial obligations for at least 12 months from the date of signature of the financial statements, which have been prepared on the going concern basis.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from the rendering of services is recognised when it is probable the company will receive the right to the consideration due under the contract.
Income from performances are recognised once the performances have taken place.
Recharged income is recognised when the corresponding expenses have been incurred on behalf of other entities.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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