Skyview Tower Systems Limited
Notes to the financial statements
For the Year Ended 31 March 2019
Skyview Tower Systems Limited is a company incorporated in England and Wales (Registered number: 07928590). The registered office is Montague Place, Quayside, Chatham Maritime, Chatham, ME4 4QU.
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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:
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.
Although the balance sheet reflects net liabilities of £156,619, which indicates that the company may not be a going concern, Tower Visions LLP and a Director of the company, being its principal creditors, have confirmed that they will not seek repayment of loans and accrued interest of £145,036 until the company's balance sheet reflects a solvent position. On this basis, the Directors believe that the company will be a going concern for the foreseeable future.
The financial statements do not reflect any adjustments which would be required if the going concern assumption was not appropriate.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to the Profit and loss account on a straight line basis over the lease term.
Interest income is recognised in the Profit and loss account using the effective interest method.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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