Balance sheet continued

As at 28 February 2025

For the year ending 28 February 2025 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 28 February 2025

• 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

  Revenue recognition (rental income): Rental income is recognised on a straight-line basis over the period to which it relates, from the tenancy start date until termination. Rent received in advance is recorded as deferred income; rent receivable at the period end is accrued. Tenant deposits are treated as liabilities and are not recognised as income. Any other income is recognised when the service has been provided and the amount can be measured reliably.

  Tangible fixed assets depreciation policy

  Tangible fixed assets: Measured at cost less accumulated depreciation and impairment.
  Land is not depreciated.
  Buildings are depreciated straight-line at 2% per annum from the date the asset is available for use.
  Directly attributable purchase costs (e.g. SDLT and legal fees) are capitalised. Day-to-day repairs and maintenance are expensed as incurred. Useful lives and residual values are reviewed annually.

  Intangible fixed assets amortisation policy

  The company held no intangible assets during the period; accordingly no amortisation policy is presented.

  Valuation information and policy

  The company applies the cost model for land and buildings and does not revalue its property. No investment properties are held.

  Other accounting policies

  Going concern: The financial statements have been prepared on a going concern basis. The director has indicated continued financial support for the company for at least twelve months from the date of approval of these financial statements. Financial instruments: The company’s basic financial instruments comprise cash at bank and amounts owed to/from related parties and lenders, which are measured at amortised cost. Cash and cash equivalents: Cash at bank and in hand includes cash and demand deposits.