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THE IMPERIAL WINE COMPANY LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017
The Imperial Wine Company Limited is a company limited by shares and incorporated and domiciled in the United Kingdom. The registered office is 7 Trinity Street, Bungay, Suffolk, NR35 1EH.
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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
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On 31 July 2013 the trade and assets of the company were sold to Transam Trucking Limited. The company is to remain non-trading.
The Company only enters into basic financial instruments 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 non-puttable ordinary shares.
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.
There are corporation tax losses carried forward at 30 June 2017 of £304,563 (2016: £304,563).
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Creditors: Amounts falling due within one year
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