GAVIN KALIN PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017
Gavin Kalin Productions Limited is a private company limited by shares and incorporated in England. The address of the registered office is The Basement, 81 Marylands Road, London W9 2DS.
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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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The following principal accounting policies have been applied:
The company is showing net liabilities at the balance sheet date of £7,660. In order to continue trading it is dependent on a loan from the director and shareholder, G Kalin, who has confirmed his intention to continue to support the company for the foreseeable future.
On this basis the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of the aforementioned support.
Turnover comprises revenue recognised by the company in respect of management fees, royalties and production profit shares received in the year.
Short term debtors are measured at transaction price, less any impairment. Other debtors include amounts advanced towards the funding of theatrical productions, these sums are recognised at the recoupable amount at the balance sheet date being the amount advanced, less amounts recovered, plus anticipated returns after making provision for losses where recovery in full of the amounts advanced is not anticipated.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, bank overdraft and loans from other third parties.
Short term creditors are measured at the transaction price.
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