DECIMUS PARK MANAGEMENT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Decimus Park Management Limited (the 'Company') is a limited company domiciled and incorporated in England and Wales.
The address of its principal place of business is Suite 335 Linen Hall, 162-168 Regent Street, London, W1B 5TF.
The address of its registered office is Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS.
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.
Monetary amounts within these financial statements are stated in pounds sterling and are rounded to the nearest whole £1, except where otherwise stated.
Turnover comprises revenue recognised by the Company in respect of service charges applicable for the year, exclusive of Value Added Tax.
Revenue is recognised in accordance with the period to which the service charge relates and is invoiced quarterly in advance.
Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.
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