CALDERWOOD DEVELOPMENTS (HARWORTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
Calderwood Developments (Harworth) Limited is a private company limited by shares, registered in England and Wales. The registered office is Rutland House, 148 Edmund Street, Birmingham, West Midlands, B3 2FD.
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:
The company is dependent upon the financial support of its creditors. The directors have received
assurance from those creditors that they will continue to provide the financial support necessary to
enable the company to continue in operational existence for the forseeable future. Accordingly,
these financial statements have been prepared on the going concern basis.
Work in progress, which represents development costs is valued at the lower of cost
and net realisable value.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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 average monthly number of employees, including directors, during the year was
4
(2020 -
4
)
.
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