|
|
|
NORTH ROW OPERATIONS LIMITED
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
North Row Operations Limited is a limited liability company registered in England and Wales. Its registered office address is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire WD6 1JD.
The principal activity of the Company during the period was that of the development and rental of investment property.
The company's functional and presentational currency is £ sterling.
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 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 Company made a loss for the period and at the balance sheet date has net current liabilities and net liabilities.
The financial statements of the Copmpany have been prepared on a going concern basis, the validity of which is dependant on the continued financial support of the other companies within the Group. The Directors are satisfied that suitable bank facilities will continue to be made available for the Company to meet it's working capital requirements for the forseeable future.
Turnover is measured at the fair value of amounts receivable in respect of rent provided in the year, net of trade discounts and excluding value added tax. Revenue from rental services is recognised in the period in which it relates.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
|