|
PEAKTOP PROPERTIES (MARYLEBONE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Peaktop Properties (Marylebone) Limited is a private company limited by shares and registered and incorporated in England and Wales.
The registered office and principal place of business is 46 Redington Road, London, NW3 7RS
.
The principal activity of the company is that of acting as property dealers, both on its own account and in the joint venture.
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 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 financial statements are presented in pound sterling which is the functional currency of the company and have been rounded to the nearest £.
The following principal accounting policies have been applied:
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Turnover represents share of property joint venture profit or loss and arises wholly in the United Kingdom.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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.
|
|
The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).
|
|
|
The average monthly number of employees, including directors, during the year was 0 (2022 - 0).
|
Page 2
|
