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MARSTON GATE MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
Marston Gate Management Company Limited is a limited liability company incorporated and domiciled in England. The registered office is Prologis House, Blythe Gate, Blythe Valley Park, Solihull, England, B90 8AH.
The financial statements are prepared in Sterling (£) which is the functional currency of the company. The financial statements are for the year ended 31 January 2023 (2022: year ended 31 January 2022).
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:
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 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 (2022: 3).
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