RADMORE VALE MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017
Radmore Vale Management Company Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is Fifth Floor Unex Tower, Station Street, Stratford, London, E15 1DA.
The Company's principal activity during the year under review was the control, supervision and management on behalf of its owners, of the site known as Radmore Vale, Peterborough, Cambridgeshire.
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
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The following principal accounting policies have been applied:
In accordance with the terms of the leases and deeds of covenant, revenue comprises recharges of directly incurred expenses of the site known as Radmore Vale, Peterborough, Cambridgeshire, excluding discounts, rebates, value added tax and other sales taxes.
Short term debtors are measured at transaction price, 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.
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
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
1
(2016 -
1
)
.
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