Registered number:
03012284
DIRFT EAST MANAGEMENT LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2017
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DIRFT EAST MANAGEMENT LIMITED
REGISTERED NUMBER:
03012284
BALANCE SHEET
AS AT
31 DECEMBER 2017
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The Company's
financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
24 September 2018
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The notes on pages 2 to 4 form part of these financial statements.
Page 1
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DIRFT EAST MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
DIRFT East Management Limited is a limited liablility company incorporated and domiciled in England. The registered office is shown on the Company Information page.
The financial statments are prepared in sterling. The financial statements are for a period of 52 weeks ended 31 December 2017 (2016:52 weeks ended 31 December 2016),
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 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:
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Service charge receivable
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Service charge receivable represents costs incurred in respect of the year which are recoverable from the owners or occupiers of the site. Amounts are changed quarterly on account and any surplus or deficit is credited or changed to the same parties, resulting in no profit or loss for the company.
Short term debtors are measured at transaction price.
Short term creditors are measured at the transaction price.
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The average monthly number of employees, including the directors, during the year was as follows:
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Page 2
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DIRFT EAST MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
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Called up share capital not paid
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Creditors: Amounts falling due within one year
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Service charge received in advance
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Service charge surplus for the year
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Creditors: Amounts falling due after more than one year
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Page 3
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DIRFT EAST MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
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Shares classified as equity
Allotted, called up and fully paid
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1 A Ordinary share of £0.01
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16,763 B Ordinary shares of £0.01
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The 'A' Ordinary shares and the 'B' Ordinary shares are separate classes of shares in the capital of the company but carry the same rights and privileges and rank pari passu in all aspects except in the following instances:
(a) The A and B shares each carry the right to vote at a general meeting but the votes of the A shares in aggregate carry three times the number of votes of the aggregate of the B shares, plus one vote.
(b) On the transfer to the company of the ownership of DIRFT East, Daventry, the Ordinary 'A' shares shall cease to carry any votes and the provisions listed in (a) above will cease to apply.
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Related party transactions
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All shareholders of the company are owners of the units within the site DIRFT East, which the company manages and therefore all service charge income arises from related party transactions.
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By virtue of the voting rights attaching to the A Ordinary share under the Articles of Association, the company is temporarily controlled by Daventry International Rail Freight Terminal Limited.
In accordance with the Articles of Association and the objects of the company, no shareholder can receive any dividend. The holding of the A Ordinary share is considered to be in a fiduciary capacity on behalf of the parties with an interest in the site throughout the period when the commercial units are held for sale, and therefore the company is not considered to be a subsidiary company held with a view to profit.
The immediate parent undertaking of Daventry International Freight Terminal Limited is ProLogis (STP) Limited, incorporated in England and Wales. The accounts of ProLogis (STP) Limited can be obtained from Prologis House, Blythe Gate, Blythe Valley Park, Solihull, England, B90 8AH.
The ultimate controlling party is ProLogis, a Real Estate Investment Trust incorporated in Maryland, USA.
Page 4
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