DORSON INFORM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2020
Dorson Inform Ltd, registered number 11309247, is a limited company incorporated in England and Wales. Its registered office is 5 Deansway, Worcester, Worcestershire, United Kingdom, WR1 2JG, and is a company limited by shares.
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
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 following principal accounting policies have been applied:
The company made a loss of £443,763 (2019: £Nil) and has net current liabilities of £292,964 (2019: net assets £800). The financial statements have been prepared under the going concern basis of preparation due to the fact the director has carried out a review of the cash needs of the business for a period in excess of the next 12 months and is satisfied that there will be sufficient resources to meet any reasonably foreseeable requirements. Accordingly, it is appropriate to apply the going concern basis in preparing these financial statements.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
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.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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