NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
Langtry Holdings Limited is a private company limited by shares incorporated in England. The address of the registered office and principal place of business is Langtry Lodge, South Town, Dartmouth, Devon, TQ6 9BU.
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.
Investments in subsidiaries are measured at cost less accumulated impairment.
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
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.
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The company was dormant (within the meaning of Section 1169(1) of the Companies Act 2006) throughout the year ended 31 December 2017. The company has not traded during the year or during the preceding financial period. During these periods the company received no income and incurred no expenditure and therefore made neither a profit nor a loss.
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