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BAD COMPANY ENTERTAINMENT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Bad Company Entertainment Limited is a private company, limited by shares, registered in England and Wales, registration number 01184335. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the company continued to be that of supplying the services of group Bad Company as recording artistes and composers throughout the world excluding the United Kingdom and the Irish Republic.
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 the 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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Functional and presentation currency
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The company's functional and presentational currency is pound sterling.
Foreign currency transactions are translated into the functional currency using the spot exchange
rates at the dates of the transactions.
At each year end foreign currency monetary items are translated using the closing rate. Nonmonetary 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.
Foreign exchange gains and losses that relate to cash are presented in the profit and loss account within 'administration expenses'. All other foreign exchange gains and losses are presented in profit or loss.
Interest income is recognised in profit or loss using the effective interest method.
Short-term debtors are measured at transaction price, less any impairment.
Cash is represented by 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 enters into basic financial instrument transactions that result in the recognition of financial assets liabilities such as other debtors and other creditors.
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