Balance sheet continued

As at 30 November 2024

For the year ending 30 November 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 30 November 2024

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Turnover represents rental income from investment properties and is recognised on an accruals basis in the period to which it relates

  Tangible fixed assets depreciation policy

  Tangible fixed assets are stated at cost less depreciation. Depreciation is not provided on freehold properties as they are investment properties measured at fair value. The directors consider that the property's residual value and useful life are such that any depreciation would be immaterial.

  Valuation information and policy

  Investment properties are stated at historical cost. The directors consider that the fair value of the property is not materially different from cost at the balance sheet date