NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2024
The company is a private company limited by shares and is registered in England and Wales. The registered office is situated at Grove Lodge, 287 Regents Park Road, London, N3 3JY.
The principal activity of the company is general property development.
The company ceased trading on 30 March 2024 and will be applying to the Registrar of Companies to be struck off.
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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.
The company's functional and presentational currency is pound sterling.
The following principal accounting policies have been applied:
Turnover comprises:
a/ Gross rental income receivable from investment properties;
b/ The value of development stock and work in progress sold during the year; and
c/ Fees from management contracts.
Revenue from sales of investment and development properties are recognised on completion of contracts. Rental income is recognised when due. Any amounts received in advance or arrears are included in debtors or creditors as applicable.
Turnover is derived from activities undertaken in the United Kingdom.
Short-term debtors are measured at transaction price, less any impairment.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. The company holds no cash equivalents.
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