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ADVANTAGE MEETINGS & EVENTS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
Advantage Meetings & Events Limited is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The company's registered office address is C/O Burnetts, Victoria House Wavell Drive, Rosehill, Carlisle, England, CA1 2ST.
The principal activity of the company is providing outsourced meetings and event services to Advantage Travel Partnership Members and Corporate Clients. These include venue sourcing, registration services and end to end event management plus ancillary service such as AV production, Meeting Design and Team Building activities.
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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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The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The Company has paid special attention to the COVID-19 pandemic and the associated impact on the business.
While the effect of the coronavirus cannot currently be predicted with any certainty, the parent company, Advantage Travel Centres Limited, has indicated its willingness and intention to continue to provide ongoing support to the Company. Having considered this, the directors are confident that the Company will continue to receive support from its parent for a period of at least twelve months from the signing of the financial statements.
On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
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