NMD HOUSING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
NMD Housing Limited is a private company limited by shares, incorporated in England and Wales on 12 July 2022, with a company registration number of 14229892. The address of the registered office is Anglia House, 6 Central Avenue, St Andrews Business Park, Norwich, Norfolk, NR7 0HR.
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:
Despite the company recording net current liabilities of £432,213 (2023 £444,053) the financial statements have been prepared on the going concern basis, which assumes the continued support of the company's bankers, an associated company and its director in the foreseeable furture. The director considers that the resources available to the company will be sufficient for it to be able to continue as a going concern, and has considered a period of at least twelve months from the balance sheet date. The financial statements do not contain any adjustments that would be required if the company were not able to continue as a going concern.
Turnover comprises Revenue recognised by the company in respect of rental income during the year. Revenue is measured as the fair value of the consideration received or receivable.
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 balance sheet date in the countries where the Company operates and generates income.
Investments are measured at cost less accumulated impairment.
Short-term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
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