DARKWOOD CROFT MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Darkwood Croft Management Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6 Darkwood Croft, Addingham, Ilkley, LS29 0FF and the registered number is 12877996. The principal activity of the company continued to be that of administering the services common to the home owners of Darkwood Court.
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 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 judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
Income represents net amounts recoverable from the house owners to meet expenditure.
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Cash and cash equivalents
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Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Short-term creditors are measured at the transaction price.
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The average monthly number of employees, including the directors, during the year was as follows:
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