EMILY DOBBS PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
Emily Dobbs Productions Limited is a private limited company by shares and incorporated in England. The address of the registered office is 44 Maiden Lane, 4th Floor, London WC2E 7LN.
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 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 meets its day to day working capital requirements through its own resources, a director loan and third parties who have provided funds specifically to invest in theatrical productions.
The director has prepared forecasts and cash flow projections based on a number of potential scenarios. These, together with the reserves and cash held, indicate that the company has adequate resources to continue in operational existence for the foreseeable future. It is, however, difficult to determine the assumptions that will prove to be the most appropriate therefore there is an element of uncertainty existing.
After reviewing the forecasts and projections, at the time of approving these financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the next twelve months. The director therefore considers it appropriate to continue to adopt the going concern basis in preparing the company's financial statements.
Revenue comprises of fees for services and other income arising from the company's participation in theatrical productions.
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the statement of income and retained earnings in the same period as the related expenditure.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Short term debtors are measured at transaction price, less any impairment.
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