KATER GORDON PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
Kater Gordon Productions Limited is a private limited company registered in England and Wales. The address of its registered office address is 124 Finchley Road, London, NW3 5JS.
The company was incorporated on the 30 September 2022 and began trading on this date.
2.Accounting policies
|
|
Basis of preparation of financial statements
|
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:
The company is showing net liabilities, at the reporting date. In order to continue trading it is dependent on the continued financial support of its shareholder and director, K G Cuervo who has confirmed her 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 in the withdrawal of the aforementioned support.
|
|
Functional and presentation currency
|
The Company's functional and presentational currency is GBP.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover comprises revenue recognised by the company in respect of producer fees, profit shares and royalties exclusive of Value Added Tax.
|
|
Investment in theatre productions
|
Investment in theatre productions are carried forward at the lower of cost and estimated net realisable value.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
|