ROSECROWN DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
The Company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England & Wales (no. 10052492). The registered office is C/O Langtons The Plaza, 100 Old Hall Street, Liverpool, L3 9QJ.
These financial statements present information about the Company as an individual undertaking. The principal activity of the Company is that of real estate development.
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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Related party transactions
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Included within other creditors is an amount of £183,824 (2022 - £183,824) owed to the director. The loan is repayable on demand and no interest has been charged.
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The Company is under the control of its director.
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