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DOWNING COLLEGE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
Downing College Developments Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Downing College, Cambridge, CB2 1DQ.
The Company's functional and presentational currency is GBP. Monetary amounts in these financial statements are rounded to the nearest £.
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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The Directors have prepared the financial statements on a going concern basis which assumes that the Company will be able to continue in operational existence for the foreseeable future, being a period of not less than 12 months from the date of approval of the financial statements.
The Company is primarily established to undertake property development on behalf of its parent undertaking, Downing College, a constituent college of the University of Cambridge. While the Company is strategically structured to generate a profit from these activities, it does not operate independently for profit. Any surpluses generated are expected to be gifted to Downing College, aligning the Company’s operations with the broader objectives of the College.
At the reporting date, the Company had net liabilities. However, the directors have received confirmation from Downing College that it will continue to provide financial support to the Company for the foreseeable future, including a period of at least twelve months from the date of approval of these financial statements. This support ensures that the Company will be able to meet its obligations as they fall due.
In light of this commitment, the directors consider it appropriate to prepare the financial statements on a going concern basis.
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Investment income represents the proportion of the LLP's accounting profit or loss that the Company is entitled to.
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