DOG STAR FILMS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
Dog Star Films Ltd is a private company limited by shares incorporated in the United Kingdom and registered in England and Wales. The address of its registered office is Witham Reach, Witham Road, Long Bennington, Newark, NG23 5DS.
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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of 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 company's functional and presentational currency is GBP.
The following principal accounting policies have been applied:
Turnover comprises production income received. Production income is recognised in the Statement of income and retained earnings in the period it is contractually due and expended on production and other costs.
Where revenue received exceeds costs incurred to date and profits are not anticipated, the balance is treated as deferred income and held on the Statement of financial position until further costs are incurred or profits anticipated. At this point the deferred income is released to the Statement of income and retained earnings.
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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.
Short term creditors are measured at the transaction price.
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.
Last year the company shortened its year end from 30 November 2022 to 31 October 2022 in line with the completion of a film.
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