|
|
10341718
30 September 2023
|
M5 ASSOCIATES PROPERTY DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
M5 Associates Property Development Limited is a private company limited by shares, incorporated in England & Wales, registered number 10341718. Its registered office is 12 Gold Tops, Newport, NP20 4PH.
The company's principal activity is that of property development. During the year the company ceased trading and will be dormant going forwards.
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 presentational currency of the financial statements is sterling which is the functional currency of the company and the financial statements are rounded to the nearest £. The financial information of the current period relates to the period ended 30 September 2023.
The following principal accounting policies have been applied:
The directors assessment is that the company has continued support from its parent undertaking if required and the financial resilience to manage the impact of a range of reasonably possible scenarios that the current environment has created and as a result have prepared the financial statements on a going concern basis.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Stocks relate to land purchased.
- 3 -
|