HYDE_COMMERCIAL_PROPERTIE - Accounts

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The company has a deficit in net current assets of £221,505. The director considers it is appropriate to prepare the accounts on a going concern basis as continual support from the director is expected to continue in the foreseeable future.

Tangible fixed assets include investment properties valued by the directors on an existing use open market value basis. Investment properties are shown at a valuation in accordance with Financial Reporting Standard for Smaller Entities (effective January 2015), valued annually by directors on an open market basis. None of the directors are qualified valuers or surveyors, however they have used their considerable experience of the property management sector to value the company's investment properties. These properties have never been valued by an external independent valuer. This accounting policy is a departure from the Companies Act 2006, which requires all tangible assets to be depreciated. In the opinion of the directors, this departure is required for the accounts to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Investment properties are shown at a valuation in accordance with Financial Reporting Standard for Smaller Entities (effective January 2015), valued annually by directors on an open market basis. None of the directors are qualified valuers or surveyors, however they have used their considerable experience of the property management sector to value the company's investment properties. These properties have never been valued by an external independent valuer. This accounting policy is a departure from the Companies Act 2006, which requires all tangible assets to be depreciated. In the opinion of the directors, this departure is required for the accounts to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.