|
3A EGERTON GARDENS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
3A Egerton Gardens Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 12995381. The address of the registered office is Ambe House, Commerce Way, Edenbridge, Kent, TN8 6ED. The company's principal activity during the year continued to be that of property investment.
2.Accounting policies
|
|
|
Basis of preparation of financial statements
|
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:
Despite the net liability position, the directors believe that the business has sufficient support from the group as well as the directors to continue to trade for a period of no less than twelve months from the approval of these accounts
Turnover comprises of revenue recognised by the company in respect of rent invoiced, exclusive of Value Added Tax.
Rental income is recognised for the period for which it is payable.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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 profit or loss.
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.
|