RKCONSULTATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
RKConsultations Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 3 Brook Business Centre, Cowley Mill Road, Cowley, Uxbridge, UB8 2FX.
The principal activity of the company is that of property investment.
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 have been prepared on a going concern basis, notwithstanding the net current liabilities of £271,952 (2023 - £2,410) at the Statement of financial position date. Included in creditors is an amount due to companies under the control of a close family member of the director of £204,510 (2023 - £204,510). These companies have indicated that they will not seek payment of their liability and will support the company for the foreseeable future to enable the company's liabilities to be met as they fall due, and specifically for a period of not less than twelve months from the date of signing of these financial statements. On this basis, the director believes that the preparation of the accounts on a going concern basis is appropriate.
Interest income is recognised in the Statement of comprehensive income using the effective interest method.
Investment properties are properties held to earn rent and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of the investment properties are included in the Statement of comprehensive income in the year in which they arise.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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