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WHITEWOOD ESTATE MANAGEMENT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Whitewood Estate Management Limited is a private company limited by guarantee and incorporated in England and Wales, registered number 09500060. The address of the registered office is Level 33, 8 Bishopsgate, London EC2N 4BQ.
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 and in accordance with Section 1A - Small Entities of Financial Reporting Standard 102, the 'Financial Reporting Standard applicable in the UK and the Republic of Ireland' ('FRS 102') and the Companies Act 2006.
The following principal accounting policies have been applied:
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Financial Reporting Standard 102 - reduced disclosure exemptions
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The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).
This information is included in the consolidated financial statements of Whitewood Phase 1 Holdings UK Sarl as at 31 December 2024 and these financial statements may be obtained from its registered office, 19 Rue Eugene Ruppert, L-2453 Luxembourg, Grand Duchy of Luxembourg.
The financial statements have been prepared on a going concern basis. In reaching this conclusion the directors have considered the financial position of the company and its ability to meet liabilities as and when they fall due. The directors have considered a period of at least twelve months from the date of signing these financial statements. Based on the properties still being held by the company's members and the ongoing agreements for the company to provide estate services the directors have concluded that the going concern basis is appropriate.
Short-term debtors are measured at the transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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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