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Derby Developments Limited
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Notes to the financial statements
Year ended 30 April 2025
Derby Developments Limited ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England. The address of the registered office is 21 Sullivan Road, Tonbridge, Kent, United Kingdom, TN10 4DD.
2.Accounting policies
The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.
The following principal accounting policies have been applied:
At the balance sheet date the company had excess liabilities over assets. The director, having made due and careful enquiry, is of the opinion that the company, with their support, has adequate working capital to execute its operations over the next 12 months. The director, therefore, has made an informed judgement, at the time of approving the financial statements, that there is reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result the director has continued to adopt the going concern basis of accounting in preparing the annual financial accounts.
Interest income is recognised in profit or loss using the effective interest method.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Participation rights
Participation rights represent investments in legal cases where the company expects to receive future economic benefits upon successful settlement. These rights are amortised over their estimated useful life, which is based on the expected duration of the case. Where the useful life cannot be reliably determined, the asset is reviewed annually for impairment. Gains or losses on disposal of participation rights are recognised in profit or loss when the case is settled.
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