(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 Dns House, 382 Kenton Road, Harrow , Middlesex, United Kingdom, HA3 8DP. |
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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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Borrowing costs
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All borrowing related costs are included within the statement of income in the period in which they are incurred using the effective interest method. |
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Investments in subsidiaries, jointly controlled entities or associates
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Investments in subsidiaries, jointly controlled entities or associates are accounted for at cost less provision for impairment. |
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Taxation
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Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. |
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Current Tax
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The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
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(4) Employees
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During the year, the average number of employees including director was 0 (2023 : 0). |
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(5) Related party transactions
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Three Waters Limited is a related party by virtue of having the same directors and shareholders. At the year-end, the balance outstanding to this related party was £2,857,931 (2023: £2,487,931). |
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(6) Fixed assets
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| Tangible £ | Investments £ | Investments Property £ | Totals £ | Cost | | | | | As at 01 May 2023 | 35,342 | 250,030 | 2,035,553 | 2,320,925 | As at 30 April 2024 | 35,342 | 250,030 | 2,035,553 | 2,320,925 | Depreciation/Amortisation | | | | | As at 30 April 2024 | - | - | - | - | Net book value | | | | | As at 30 April 2024 | 35,342 | 250,030 | 2,035,553 | 2,320,925 | As at 30 April 2023 | 35,342 | 250,030 | 2,035,553 | 2,320,925 |
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(7) Investment Properties
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These financial statements for the year ended 30 April 2024 are the financial statement of the company prepared in accounts with FRS102 1a "the Financial Reporting Standard applicable in the UK and Republic of Ireland". The property is being measured at fair value under FRS 102 1a and no fair value gains or losses are reported during the year. |
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