DIRFT EAST MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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 statements are prepared in Sterling (£) which is the functional currency of the company. The financial statements are for the year ended 31 December 2020 (2019: year ended 31 December 2019).
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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
Service charge receivable represents costs incurred in respect of the year which are recoverable from the owners or occupiers of the site, exclusive of Value Added Tax. 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 directors, during the year was
2
(2019 -
2
)
.
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