LONDON DISTRIBUTION PARK MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2020
London Distribution Park Management Company Limited is a limited liability company incorporated and domiciled in England.
The registered office is:
Leslie Ford House
Tilbury Freeport
Tilbury
Essex
RM18 7EH
The financial statements are prepared in sterling. The financial statements are for a period of a year ended 31 May 2020 (2019: year ended 31 May 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
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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:
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Service charge receivable
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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 account and any surplus or deficit arising is refunded or recharged to the relevant parties.
Interest income is recognised in profit or loss using the effective interest method.
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.
Short term creditors are measured at the transaction price.
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