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BRE-BMR CITP (Cambridge) Limited
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Notes to the financial statements
For the year ended 31 December 2024
BRE-BMR CITP (Cambridge) Limited is a private company limited by shares and is incorporated in England and Wales. The registered office of the company is C/O Buzzacott LLP, 130 Wood Street, London, EC2V 6DL and the principal place of business is The McClintock Building, Granta Park, Great Abington, Cambridge, CB21 6GP. The registered number is 04201938.
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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The directors have received assurance from BRE-BMR CITP Holdco Limited that it will provide continuing financial support to the company sufficient to allow it to continue trading for the foreseeable future. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.
However, should this support be withdrawn or future funding not be available, the going concern basis used
in preparing the company's financial statements may be invalid and adjustments would have to be made to
reduce the value of the assets to their realisable amount and to provide for any further liabilities that might
arise. The financial statements do not include any adjustment to the company's assets or liabilities that might
be necessary should the going concern basis not continue to be appropriate.
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Foreign currency translation
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Functional and presentation currency
The company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
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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