SOCIAL HOUSING PLUS MOORFIELD ROAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
The principal activity of Social Housing Plus Moorfield Road Limited ("the Company") is that of an investment holding company.
The company is a private company limited by shares and is incorporated in England and Wales.
The Registered Office address is 71-75 Shelton Street, London, WC2H 9JQ.
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:
The financial statements have been prepared on the going concern basis, which assumes that the
Company will continue to trade for the foreseeable future, being a period of at least twelve months
from the date of approval of these financial statements, and will be able to meet its debts as they fall
due.
The Company made a loss of £9,765 during the year and had net liabilities of £9,755.
The Company relies upon borrowings of £6,229,183 due to its parent and other related party entities. The Company is reliant on the ongoing support from its parent entity, which the directors have confirmed.
As a result, the directors are confident that the Company's access to working capital will be sufficient to support the business in the foreseeable future, and accordingly, consider it appropriate to prepare the financial statements on a going concern basis.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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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