61 ALEXANDRA ROAD (READING) MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
61 Alexandra Road (Reading) Management Company Limited is a private company limited by share capital and incorporated in England and Wales. The address of the registered office is 8th Floor, Reading Bridge House, George Street, Reading, RG1 8LS. The principal activity of the company in the year under review was that of the management of the property occupied by the members of the company.
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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:
Revenue represents service charges to residents of the property.
Interest income is recognised in profit or loss using the effective interest method.
Freehold property represents the cost of the freehold interest in the property at 61 Alexandra Road, Reading.
The freehold interest has not been depreciated.
Short-term debtors are measured at 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.
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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.
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