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BATH & STRATFORD HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Bath & Stratford Homes Limited is a company limited by shares incorporated in England and Wales. The company's registered office is Gamma 5a, 1-5 West Road, Ipswich, Suffolk, England, IP3 9FF. The company's main activity is that of a property trading company.
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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
On the basis of their assessment of the company's financial position and confirmation from Red Oak Taverns Limited (its parent company) of their continued support, the company's directors have a reasonable expectation that the company will be able to continue in operational existence for the forseeable future. They continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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