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NGP Management Company (Town Centre) Limited
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Notes to the financial statements
Year ended 31 December 2024
NGP Management Company (Town Centre) Limited ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom. The address of the registered office is 2nd Floor, Citygate, St James' Boulevard, Newcastle upon Tyne, NE1 4JE.
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.
The following principal accounting policies have been applied:
At the balance sheet date the company had excess liabilities over assets. The directors, having made due and careful enquiry, are of the opinion that the company, with the support of its parent company, has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informal judgement, at the time of approving the financial statements, thatthere is reasonable expectation that the company has adequate resources to continue in operationalexistence for the foreseeable future. As a result the directors have continued to adopt the goingconcern basis of accounting in preparing the annual financial accounts.
Turnover comprises revenue recognised by the company in respect of services rendered during the year, exclusive of Value Added Tax.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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The company has no employees other than the directors, who did not receive any remuneration (2023: £nil).
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