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SOUTHFIELDS BUSINESS PARK MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
Southfields Business Park Management Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is 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 the owners, of the site known as Southfields Business Park, Basildon, Essex.
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 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 Southfields Business Park, excluding discounts, rebates, value added tax and other sales taxes.
Short term debtors are measured at transaction price, less any impairment.
Short term creditors are measured at the transaction price.
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.
Finanical 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 recongised in the Statement of income and retained earnings.
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The average monthly number of employees, including directors, during the year was 1 (2018 - 1).
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