Disclosure Of General Information About Financial Statements [Text Block]

ORIENT TELECOMS PLC - Filing #2067990

Concept 2023-04-01 to
2024-03-31
2023-04-01 to
2024-03-31
Disclosure of general information about financial statements [text block]
Statement of Directors' Responsibilities
Name of reporting entity or other means of identification
ORIENT TELECOMS PLC
Explanation of change in name of reporting entity or other means of identification from end of preceding reporting period
The company maintains its name without change
Description of nature of financial statements
The financial statements have been prepared in accordance with the historical cost convention. The financial statements have been prepared in accordance with FRS 101 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The principal accounting policies are described below.
The financial statements have been prepared in accordance with UK-adopted International Accounting Standards in conformity with the requirements of the Companies Act 2006 and International Financial Reporting Standards. The financial statements have been prepared under the historical cost convention as modified for financial assets carried at fair value.
Date of end of reporting period
2024-03-31
Description of presentation currency
Foreign currency The Group's consolidated financial statements are presented in Sterling. The functional currency of the Group's subsidiary is Ringgit Malaysia (“MYR”). The Group determines the functional currency and items included in the financial statements of each entity are measured using that functional currency. The assets and liabilities of foreign operations are translated into sterling at the rate of exchange ruling at the reporting date. Income and expenses are translated at weighted average exchange rates for the period. The exchange differences arising on translation for consolidation are recognised in the translation reserve. 36

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