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BELLHOUSE PROPERTY DEVELOPMENT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Bellhouse Property Development Limited is a private limited liability company incorporated in England and Wales with its registered office at 2nd Floor, Connaught House, 1-3 Mount St (Entrance via Davies Street), London W1K 3NB. Its principal business address is at Wellingtonia Lodge, Buckland, Farringdon, Oxfordshire, SN7 8QW.
The principal activity has continued to be that of property development project management, co-ordination and consultancy.
The company's functional and presentational currency is £ Sterling.
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:
At 31 December 2021 the company had net liabilities of £187,386 (2020 - £180,688). The company continues to meet its day to day working capital requirements through the financial support of its ultimate parent company. On the basis of this support the director considers it appropriate to prepare the financial statements on a going concern basis.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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