DEVONSHIRE PROPERTY (B2D) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Devonshire Property (B2D) Limited is a private company limited by shares, incorporated in England and Wales (registered number: 12430819). Its' registered office is the Estate Office, Edensor, Bakewell, Derbyshire, DE45 1PJ. The principal activity of the Company throughout the year continued to be that of letting and operating real estate.
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 Company's functional and presentation currency is pounds sterling.
The following principal accounting policies have been applied:
The Directors have considered the likely outcome for the 2022/23 year and expectations for 2023/24 including an estimate of cash flow impacts. These indicate that, taking into account reasonably possible downsides and the impact on the operations and its financial resources, the company will have sufficient funds to meet its liabilities as they fall due for the forseeable future.
Consequently, the Directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.
Investment property is carried at fair value determined annually by the internal property team in Chatsworth Settlement and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
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