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Partington Estates Limited
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Notes to the financial statements
Year ended 31 December 2024
Partington Estates Limited is a private company limited by shares incorporated and domiciled in Enlgand and Wales. The registered office is 26 Ellerbeck Court, Stokesley, Middlesbrough, England, TS9 5PT.
2.Accounting policies
The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.
Rent received is recognised excluding VAT on a straight-line basis over the terms of the individual subleases.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Assets in the course of construction are not depreciated. At the end of each accounting period, costs are reviewed and any sunk costs expensed to the profit and loss.
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The company has no employees other than the directors, who did not receive any remuneration.
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