(1) General Information
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The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is Apartment 503, Duckman Tower 3 Lincoln Plaza, London, E14 9BL. |
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(2) Statement of compliance
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These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime. |
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(3) Significant Accounting Policies
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Basis of Preparation
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The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise. |
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Rental income
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Rental income from operating leases are recognised on a straight-line basis over the term of the relevant lease. Rental Income is included within other income from fixed assets. |
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Intangible fixed assets
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Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. |
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Property, plant and equipment
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Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.
Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:
| Asset class and depreciation rate | Land and Buildings | | Plant and Machinery | | Short Leasehold Properties | | Investment Properties | | Long Leasehold Properties | | Commercial Vehicles | | Fixtures and Fittings | | Equipment | | Motor Cars | |
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(4) Critical accounting judgements and key sources of estimation uncertainty
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No judgement
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No significant judgements or estimates have been made in preparation of these financial statements. |
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(5) Employees
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During the year, the average number of employees including director was 0 (2023 : 0). |
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(6) Fixed assets
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| Intangible £ | Investments Property £ | Totals £ | Cost | | | | As at 01 March 2023 | 350,000 | 3,293,196 | 3,643,196 | As at 29 February 2024 | 350,000 | 3,293,196 | 3,643,196 | Depreciation/Amortisation | | | | As at 29 February 2024 | - | - | - | Net book value | | | | As at 29 February 2024 | 350,000 | 3,293,196 | 3,643,196 | As at 28 February 2023 | 350,000 | 3,293,196 | 3,643,196 |
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(7) Loans and borrowings
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The company has aggregate outstanding borrowing facilities of £- ({Please enter year}: £-) at the reporting date and is secured by a floating charge over the assets of the company. The loans in respect of the hire purchase agreements are secured against the assets to which they relate.Analysis of creditors falling due after more than five years: | | 01 March 2023 | | 28 February 2023 | | £ | | £ | | Aggregate of non-instalment debts that fall due for repayment after five years | 4564512 | | 4837185 | Aggregate of instalments that fall due for repayment after five years | - | | - | | 4564512 | | 4837185 |
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