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MILLENNIA PROPERTY AND DEVELOPMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Millennia Property and Development Limited is a private company, limited by share capital, incorporated in England and Wales under registration number 14571239. The registered office of the company is situated at Level 5a Maple House, 149 Tottenham Court Road, London W1T 7NF.
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 unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements have been prepared on the assumption that the company will have the
continued financial support of the shareholders. The shareholders of the company have sufficient
resources to finance the company as and when the need arises.
The financial statements have been prepared on a going concern basis which is dependent on the
financial support of the shareholders to ensure that the company will continue in operational
existence for the foreseeable future.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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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The average monthly number of employees, including the directors, during the year was as follows:
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