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SIMIAN PRODUCTIONS LIMTED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
Simian Productions Limited is a private company, limited by shares, registered in England and Wales, registration number
02973391
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The address of its registered office is 5th Floor, 89 New Bond Street, London, W1S 1DA.
The principal activity of the company was that of the production and distribution of fashionware.
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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
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As at the balance sheet date the company's liabilities exceed its assets. The financial statements have been prepared on a going concern basis as the director has confirmed she will continue to provide support to the company for the forseeable future as its liabilities fall due.
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Foreign currency translation
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Functional and presentation currency
The company's functional and presentational currency is pound sterling.
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.
Revenue comprises sales recognised by the company in respect of fashionware goods supplied during the year, exclusive of Value Added Tax and trade discounts.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in the Profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.
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