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READ ESTATES AND DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Read Estates and Developments Limited is a private company limited by shares and incorporated in England & Wales. Its registered office is Mostyn, 76 High Street, Sutton, Ely, Cambridgeshire, CB6 2NL.
Unless otherwise stated, all amounts in the accounts have been rounded to the nearest whole pound (£).
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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and 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 turnover shown in the profit and loss account represents property management income receivable during the year.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Short term debtors are measured at transaction price, less any impairment.
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CASH AND CASH EQUIVALENTS
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Cash is represented by cash in hand and deposits with financial institutions repaybale without penalty on notice of not more than 24 hours.
Short term creditors are measued at the transaction price.
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The average monthly number of employees, including directors, during the year was 6 (2025 - 6).
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