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COURT BD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
Court BD Limited (the Company) is a private company, limited by shares, incorporated and domiciled in England. The address of its registered office is 23rd Floor, Alpha Tower, Suffolk Street Queensway, Birmingham, B1 1TT.
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 directors have prepared the financial statements on a going concern basis.
The directors consider this to be appropriate as they have received assurances from the holding company to the effect that they will continue to make funds available to the Company for the forseeable future and will continue to meet the Company's obligations as and when they fall due. If for any reason this does not continue to be the case, then the going concern basis may not be appropriate.
Turnover comprises revenue recognised by the Company in respect of property sales completed during the period.
Interest income is recognised in profit or loss using the effective interest method.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
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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