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EMMY & ALEC PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024
Emmy & Alec Properties Ltd is a private company limited by shares. The company was incorporated in England and Wales and its registered office address is Aston House, Cornwall Avenue, London N3 1LF.
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 financial statements are presented in Sterling (£), which is the functional currency of the entity.
The following principal accounting policies have been applied:
The company is showing net liabilities at the balance sheet date which includes £58,500 owed to a related company. The related company has indicated their continued support and therefore the directors believe that preparing the accounts on a going concern basis is wholly appropriate.
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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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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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The average monthly number of employees, including directors, during the period was 0.
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Cash and cash equivalents
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