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Registered number: 03012120
DIRFT CENTRAL MANAGEMENT LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
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DIRFT CENTRAL MANAGEMENT LIMITED
REGISTERED NUMBER: 03012120
BALANCE SHEET
AS AT 31 DECEMBER 2016
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 September 2017.
The notes on pages 2 to 4 form part of these financial statements.
Page 1
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DIRFT CENTRAL MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
DIRFT Central Management Limited is a limited liability company incorporated and domiciled in England, The registered office is shown on the Company Information page.
The financial statements are prepared in sterling. The financial statements are for a period of 52 weeks ended 31 December 2016 (2015: 52 weeks ended 31 December 2015).
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:
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Service charge receivable
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Service charge receivable represents costs incurred in respect of the year which are recoverable from the owners or occupiers of the site. Amounts are charged quarterly on account and any surplus or deficit is credited or charged to the same parties, resulting in no profit or loss for the company.
Short term debtors are measured at transaction price.
Short term creditors are measured at the transaction price.
Page 2
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DIRFT CENTRAL MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
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The average monthly number of employees, including directors, during the year was 0 (2015 - 0).
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Creditors: Amounts falling due within one year
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Service charge demanded on account
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Service charge surplus in year
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Page 3
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DIRFT CENTRAL MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
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Shares classified as equity
Allotted, called up and fully paid
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1 'A' Ordinary share of £0.01
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In addition to the 'A' Ordinary shares allotted , the company currently has 7,499 authorised but not allotted 'B' Ordinary shares.
The 'A' Ordinary share and the 'B' Ordinary shares are separate classes of shares in the capital of the company but carry the same rights and privileges and rank pari passu in all aspects except in the following instances:
(a) The 'A' and 'B' shares each carry the right to vote at a general meeting but the vote of the 'A' share in aggregate carries three times the number of votes of the aggregate of the 'B' shares, plus one vote.
(b) On the transfer to the company of the ownership of DIRFT Central, Daventry, the Ordinary 'A' share shall cease to carry any votes and the provisions listed in (a) above will cease to apply.
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By virtue of the voting rights attaching to the A Ordinary share under the Articles of Association, the company is temporarily controlled by Daventry International Rail Freight Terminal Limited.
In accordance with the Articles of Association and the objects of the company, no shareholder can receive any dividend. The holding of the A Ordinary share is considered to be in a fiduciary capacity on behalf of the parties with an interest in the site throughout the period when the commercial units are held for sale, and therefore the company is not considered to be a subsidiary company held with a view to profit.
The immediate parent undertaking of Daventry International Rail Freight Terminal Limited is ProLogis (STP) Limited, incorporated in England and Wales. The accounts of ProLogis (STP) Limited can be obtained from ProLogis House, 1 Monkspath Hall Road, Solihull, West Midlands, B90 4FY.
The ultimate controlling party is ProLogis, a Real Estate Investment Trust incorporated in Maryland, USA.
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First time adoption of FRS 102
The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.
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Page 4
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