(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 72 Moss Lane, Pinner, United Kingdom, HA5 3AU. |
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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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Property, plant and equipment
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Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.
Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:
| Asset class and depreciation rate | Land and Buildings | | Plant and Machinery | | Short Leasehold Properties | | Investment Properties | | Long Leasehold Properties | | Commercial Vehicles | | Fixtures and Fittings | 25% reducing balance | Equipment | | Motor Cars | |
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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) Fixed assets
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| Tangible £ | Investments Property £ | Totals £ | Cost | | | | As at 01 August 2023 | 4,900 | 801,883 | 806,783 | As at 31 July 2024 | 4,900 | 801,883 | 806,783 | Depreciation/Amortisation | | | | As at 01 August 2023 | 94 | - | 94 | For the year | 1,202 | - | 1,202 | As at 31 July 2024 | 1,296 | - | 1,296 | Net book value | | | | As at 31 July 2024 | 3,604 | 801,883 | 805,487 | As at 31 July 2023 | 4,806 | 801,883 | 806,689 |
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(6) Investment Properties
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These financial statements for the year ended 31 July 2024 are prepared in accordance with FRS 102 1a. The financial reporting standard is applicable in the UK and the Republic of Ireland. The property is being measured at fair value under FRS 102 1a and no fair value gains and losses are reported in profit or loss. |
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(7) Creditors > 1 year (Mortgage loan)
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Mortgage loans are secured by assets held by the company. |
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