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HOLD MIDCO LTD
(FORMERLY KNOWN AS ATTIC SELF STORAGE KINGS CROSS HOLDINGS LIMITED)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Hold Midco Ltd is a private company, limited by shares, and incorporated in England and Wales, company registration number 12992667. The registered office is Lynton House, 7-12 Tavistock Square, London, United Kingdom, WC1H 9LT and principal place of business is 5 Marylebone Mews, London, W1G 8PX. The principal activity is that of a holding company.
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:
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Exemption from preparing consolidated financial statements
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The company, and the Group headed by it's parent, qualify as small as set out in section 383 of the Companies Act 2006 and the intermediate parent and Group are considered eligible for the exemption to prepare consolidated accounts.
The company is reliant on financial support from related parties. The directors have confirmed that they expect this support to continue for the foreseeable future and it is therefore the directors' opinion that the going concern basis is appropriate.
Interest income is recognised in profit or loss using the effective interest method.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Investments in subsidiaries are measured at cost less accumulated impairment.
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