NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
Grantdean Limited is a private Company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the Company information page.
The principal place of business is Garage 9A Catherine Wheel Yard.
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
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The following principal accounting policies have been applied:
The Coronavirus pandemic is creating significant uncertainty globally and the Company is not immune to this.
The director is working to ensure the safety of their employees and maintaining the continuity of their operations as far as they are able, whilst adhering to Government advice. Whilst the pandemic will have a financial impact on the Company, at this stage it is not possible to reliably forecast what this may be. However, the director has taken all relevant measures to ensure they are able to safeguard cashflows and put them in the best possible position to be able to pick up on opportunities as they arise once business starts to return to normal.
Given the uncertainties that exist, this may cast significant doubt on the Company’s ability to continue as a going concern, however, the Director believes that the actions they have taken should enable them to continue in operational existence.
Turnover is recognised on garage rentals received.
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Operating leases: the Company as lessor
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Rentals income from operating leases is credited to the Statement of Income and Retained Earnings on a straight line basis over the term of the relevant lease.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight line basis over the lease term.
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