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CARLTON GATE SALES LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Carlton Gate Sales Limited is a private limited liability company incorporated in England and Wales with its principal place of business and registered office at The Tea House, 17 Hall Road, London, NW8 9RF.
The principal activity of the Company continued to be that of sales agent for the residential development known as Carlton Gate.
The functional and presentational currency of the Company is £ Sterling.
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.
The following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
Turnover comprises premiums arising on lease extensions, exclusive of VAT.
Revenue from lease premiums is recognised in full on completion.
Investments in subsidiaries are measured at cost less impairment.
Short term debtors are measured at the 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.
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