THE ESTATES AGENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
The Estates Agent Limited is a private company limited by shares incorporated in England and Wales. The registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.
The principal activity of the company is that of estate agents.
2.Accounting policies
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
As explained in note 2.3 to the financial statements, the directors have decided to cease the company’s operations post year end and therefore the financial statements have been prepared on a basis other than the going concern basis. No adjustments to the balance sheet were considered necessary in these financial statements, as the net assets are considered to be shown at their recoverable amounts. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.
The following principal accounting policies have been applied:
|
|
Financial Reporting Standard 102 - reduced disclosure exemptions
|
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Lillebus Holdings Limited as at 31 January 2024 and these financial statements may be obtained from companies house.
Subsequent to the year end, the company has decided to wind down its operations. The company will continue to operate in order to collect the remaining debtors due to the company. As the company has decided to wind down its operation it was decided by the Board that the financial statements should not be prepared on a going concern basis. No adjustment were considered to be necessary to the amounts at which the remaining net assets are included in these financial statements.
|