TRIBEKA DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
Tribeka Developments Limited is a private company limited by shares, incorporated in England and Wales (registered number: 06762959). Its registered office is 443 Handsworth Road, Handsworth, Sheffield, England, S13 9DD. The principal activity of the Company throughout the year continued to be that of property development.
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 company’s functional and presentational currency is pounds sterling.
The following principal accounting policies have been applied:
At 31 January 2024 the Company's liabilities exceeded its assets by £93,104 (2023: £84,730). The ability of the company to meet its liabilities as they fall due is dependent on the future probability and cash generation of the company. The directors are confident that the company will be able to pay its debts as they fall due and accordingly these accounts are prepared 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, on a reducing balance basis.
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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