205 LONDON DOCK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024
205 London Dock Limited is a private company limited by shares registered in England and Wales. The
address of the Company's registered office is 124 Finchley Road, London, United Kingdom, NW3 5JS.
The company was incorporated on 11 August 2023 and commenced to trade on 25 August 2023.
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 director, having reviewed the Company's financial performance and position up to the date
these financial statements were approved, is of the opinion that the Company has available at its
disposal, adequate financial resources to continue in operational existence for the foreseeable future.
While there will always remain inherent uncertainty, the director has no reason to believe that a
material uncertainty exists that may cast significant doubt about the ability of the Company to
continue as a going concern and therefore consider it both appropriate to continue to adopt the going
concern basis in preparing the Company's financial statements and to not recognise any adjustments
in the financial statements that would arise if the going concern basis were to become no longer
appropriate.
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
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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