| Cranbournemep UK Ltd |
| Notes to the Accounts |
| for the year ended 31 May 2017 |
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| 1 |
Accounting policies |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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| 2 |
Debtors |
2017 |
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| £ |
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Other debtors |
137,322 |
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| 3 |
Creditors: amounts falling due within one year |
2017 |
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| £ |
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Directors Loan Account |
197,135 |
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| 4 |
Other information |
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Cranbournemep UK Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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15 Athelstan Road |
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Southampton |
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SO19 4DB |
