EDGAR HARVEY CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 22 Stokes Croft, Bristol, BS1 3PR.
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 of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The company made a loss after tax of £1,510 (2021: £1,916), and has net liabilities of £23,426 (2021: £21,916). The financial statements have been prepared on a going concern basis, the validity of which depends on the support of the company's directors and a company which is under common directorship. The directors have indicated that they will continue to make available such funds as are needed by the company and in particular will not seek repayment of the amounts currently made available unless the Company has sufficient cash to make such a repayment. This should enable the company to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due for payment.
The directors of the company have considered cash flow projections for the 12 months from the date of approval of these financial statements, taking account of the directors' support and remain confident that the company is able to continue trading for a period of at least 12 months from the date of approval of these financial statements.
Based on this, the directors have prepared these financial statements on a going concern basis.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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