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GREYTOWN DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Greytown Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 197 Ballards Lane, London, England, N3 1LP and its company registration number is 15173985.
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 financial statements have been prepared on the going concern basis which, inter alia, is based on the director's reasonable expectation that the Company has adequate resources to continue to operate as a going concern for at least twelve months from the date of his approval.
In making the assessment of the appropriateness of this basis, the director has considered the trading of the Company since the year end and the facilities that are either committed to the Company for a period of at least twelve months from the date of approval of the financial statements or which he consider will probably be available to the Company during such period.
After careful consideration, the director considers that he has reasonable grounds to believe that the Company can be regarded as a going concern and, for this reason, he continues to adopt the going concern basis in preparing the Company’s financial statements.
Revenue relates to amounts receivable from construction contracts. Revenue from construction contracts for which fixed mark-up is applied to costs incurred is recognised as the work progresses. Amounts are billed in line with stage of completion of service contract performed for the customer.
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 reporting date in the countries where the Company operates and generates income.
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