PV TECHNOLOGY FOR URBAN DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PV Technology for Urban Developments Limited (company registered number: 06309041), having its registered office at 1st Floor Sackville House 143-149 Fenchurch Street, London, ECM 6BL, is a private limited company incorporated in England and Wales.
The trading address is Av. Queiroz Filho, 1560, Casa 16G, Vila Hamburguesa, 05.319-000, Sao Paulo, Brazil.
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 following principal accounting policies have been applied:
The Company has taken advantage of the exemptions in Financial Reporting Standard 102, Section 1A.7 from the requirement to produce a statement of Cash Flows on the grounds that it is a small company.
At the year end, the Company had net liabilities of $1,770,291 (2023: $1,767,469). The director considers it appropriate to prepare the accounts on the going concern basis as the Company has the continuing support of its shareholder and main creditor.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
At each Balance Sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Income and Retained Earnings.
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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