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THE GREEN REGENERATION PROPERTY COMPANY LTD
(FORMERLY KNOWN AS 144 EAST STREET LTD)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
The Green Regeneration Property Company Ltd is a private company, limited by shares, incorporated in England and Wales. Its registered office and business address is Cavendish House, 369 Burnt Oak Broadway, Edgware, Middlesex, HA8 5AW.
The Company changed its name from 144 East Street Ltd on 28 June 2023.
The principal activity of the company is that of property development.
2.Accounting policies
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Basis of preparation of financial statements
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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 financial statements of the Company have been prepared on a going concern basis, the validity of which is dependant on the continued support of the shareholder. The director is satisfied that suitable facilities will continue to be made available for at least twelve months from the date of his approval of these financial statements to enable the Company to meet its liabilities as they fall due, and that the Company will be able to meet its trading requirements for the foreseeable future.
Turnover represents amounts receivable from property management services. Revenue is recognised when the service is provided and income can be reliably measured.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
In considering the net realisable value of land and properties it is assumed that developments will be completed and sold in the ordinary course of the company's business and that they would not be placed on the market for immediate sale.
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