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08034530
31 December 2020
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ONEFINESTAY MEMBERS CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Onefinestay Members Club Ltd (the "Company") is a private company limited by shares and incorporated in England and Wales. The address of its registered office is C/O Mazars LLP, The Pinnacle, 160 Midsummer Boulevard, Milton Keynes, Buckinghamshire, MK9 1FF.
The Company is dormant and has not traded during the year ended 31 December 2020.
These financial statements have been presented in Pounds Sterling because this is the Company's functional currency, being the currency of the primary economic environment in which the Company operates. The financial statements are rounded to the nearest pound.
2.
Accounting policies
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the financial statements.
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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 judgement in applying the Company's accounting policies (see note 3).
The director has made the decision to cease operations in 2020 with a view of closing the company in 2021. In light of this the director does not consider the going concern to be appropriate and these financial statements have therefore been prepared on a basis other than going concern.
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.
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Judgements in applying accounting policies and key sources of estimation uncertainty
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No significant judgements have needed to be made by management in the preparation of these financial statements.
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