FELLWOOD PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Fellwood Properties limited is a private limited company incorporated in the United Kingdom. The registered office is Flat 3, 17 Woodside Avenue, London, United Kingdom, N12 8AN.
The principal activity during the year continued to be that of property investment.
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:
The financial statements have been prepared on the going conern basis which assumes the Company's continuing ability to meet its debts as they fall due for the forseeable future. The director is satisfied that the going concern basis is appropriate for the prepartion of these financial statements.
Rental income represents rent receivable from investment properties.
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.
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The average monthly number of employees, including directors, during the year was 1 (2023 - 1).
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