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TRAFALGAR SQUARE MANAGEMENT (2014) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Trafalgar Square Management (2014) Limited ("the Company") is a private company limited by shares and incorporated in England and Wales, registration number 09355225. The address of its registered office is Leytonstone House, Leytonstone, London, E11 1 GA.
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.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives on the following annual bases:
The freehold property is included in the balance sheet at cost in accordance with the provisions appliacble to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The leases granted in respect of the individual dwellings and commercial premises at the property are for a term of 999 years, and as such depreciation in the directors' opinion, is not necessary in order to give a true and fair view of the financial position of the company.
Freehold property is assessed annually by the directors for signs of impairment. Any impairment is recognised in the profit and loss account.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Short-term creditors are measured at the transaction price.
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The average monthly number of employees, including directors, during the year was 2 (2023 - 2).
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