PROLOGIS RFI DIRFT MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
Prologis RFI Dirft Management Company Limited is a limited liability company incorporated and domiciled in England. The registered office is shown on the Company Information page.
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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:
Service charge income represents maintenance, management and administration costs recoverable from owners or occupiers of units on the site, exclusive of Value Added Tax. Amounts are charged on quarterly on account and any surplus or deficit are refunded or recharged to the relevant parties.
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.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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The average monthly number of employees, including directors, during the year was 3
(2016 -
3
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Called up share capital not paid
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Prepayments and accrued income
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