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Newcastle Great Park (Estates) Limited
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Notes to the financial statements
for the year ended 31 December 2021
The company is a private company limited by shares, incorporated and domiciled in the United Kingdom.
The registered office is 3rd Floor, Citygate, St James' Boulevard, Newcastle Upon Tyne, NE1 4JE.
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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:
At the balance sheet date the company had excess liabilities over assets. The directors, having made
due and careful enquiry, are of the opinion that the company, with the support of its ultimate shareholders, has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informal judgement, at the time of approving the financial statements, that there is reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result the directors have continued to adopt the going concern basis of accounting in preparing the annual financial accounts.
Investments in subsidiaries are measured at cost less accumulated impairment.
The company only enters into basic financial instrument 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 ordinary shares.
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The company has no employees other than the directors, who did not receive any remuneration (2020 - £Nil).
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