NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
The Ishack Family LLP is a private Limited Liability Partnership ("LLP") registered in England and Wales. Its registered office is at 2nd Floor Connaught House, 1-3 Mount Street, (Entrance Via Davies Street), London, W1K 3NB.
The principal activity of the Partnership during the year was that of residential property lettings.
The Partnership'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 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.
The following principal accounting policies have been applied:
Turnover represents rental income net of VAT.
Revenue is recognised in the period to which it relates.
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
Short term debtors are measured at the transaction price, less any impairment.
Short term creditors are measured at the transaction price.
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The entity has no employees.
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