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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
Dasia Ltd is a private limited company registered in England and Wales with its registered office and principal place of business at Frank Saul House, Steele Road, London, NW10 7AR. The company started trading from 1 July 2023.
The principal activity of the Company is the development of building projects and selling of real estate.
The presentational and functional currency of the the Company is £ Sterling.
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 Company changed its financial year from 30 June to 31 October to align with the financial reporting year of the other companies within the group.
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis which assumes the continued financial support of the Company's loan creditor. In the opinion of the director, the Company will continue receive such financial support as may be required to enable it to meet all of its liabilities as they fall due for at least 12 months following the date of his approval of the financial statements and on this basis he has prepared the financial statements on a going concern basis.
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 reporting date in the countries where the Company operates and generates income.
Stocks and work in progress represents development property valued at the lower of cost and net realisable value. Cost for this purpose comprises the original purchase of land and buildings, development expenditure and overheads.
In considering the net realisable value of land and properties it is assumed that developments will be completed and sold in the ordinary course of the Company's business and that they would not be placed on the market for immediate sale.
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