KENTFORD FARMS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 17 MARCH 2022 TO 31 MARCH 2023
The principal activity of Kentford Farms Ltd is that of property investment.
The Company is a private company limited by shares and is incorporated in England and Wales.
The registered office is Stonecross, Trumpington High Street, Cambridge, CB2 9SU.
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.
The following principal accounting policies have been applied:
Rental income is recognised on an accruals basis.
Investment property is carried at fair value determined annually by the director. No depreciation is provided. Changes in fair value are recognised in profit or loss.
The company only enters into basic financial instruments and transactions that result in the
recognition of financial assets and liabilities like trade and other debtors and creditors and loans to
and from related parties
(i) Financial Assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at market rate of interest.
(ii) Financial Liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt Instrument is measured at the present value of the future payments discounted at a market rate of interest.
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