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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Headland Investments Ltd is a private company limited by share capital, incorporated in England & Wales, registered number 09868191. The address of the registered office is 40 Queen Anne Street, London, W1G 9EL.
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 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.
At 31 March 2025, the company had net current liabilities of £2,876,527. Included within creditors falling due within one year is a loan of £2,999,950 due to Penninsula Projects Limited, its parent undertaking. The Director of Penninsula Projects Limited has confirmed that they do not seek repayment of the loan until the company is in a position to make such a repayment without jeopardising its ability to continue as a going concern. As a result the Director is of the opinion that the financial statements should be prepared on a going concern basis.
Turnover represents amounts receivable in respect of rent.
Investment property is carried at fair value determined annually by the Director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and Loss Account.
Short-term debtors are measured at 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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