71 Park Street Limited |
Notes to the Accounts |
for the year ended 31 March 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Investment property |
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Investment property is measured at fair value. Changes in fair value are included in the profit and loss account. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
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Going concern |
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The accounts have been prepared on a going concern basis as the shareholder director has indicated that he will provide adequate resources to meet the company's debts and liabilities as they fall due |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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3 |
Tangible fixed assets |
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Investment property |
£ |
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Valuation |
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At 1 April 2023 |
9,700,000 |
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At 31 March 2024 |
9,700,000 |
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£ |
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Historical cost upon reclassification |
6,769,110 |
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4 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Shareholder's loan |
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7,636,031 |
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6,901,377 |
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Taxation and social security costs |
- |
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519,738 |
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Other creditors |
- |
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70,782 |
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7,636,031 |
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7,491,897 |
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5 |
Other information |
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71 Park Street Limited is a private company limited by shares and incorporated in England. Its registered office is: 9 Bonhill Street, London EC2A 4DJ |
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9 Bonhill Street |
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London |
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EC2A 4DJ |