TU PRODUCTIONS LTD |
Notes to the Accounts |
for the period from 24 January 2023 to 31 January 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Work in progress |
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Work in progress is measured at the lower of cost and estimated selling price less costs to complete and sell. The company started production of the British qualifying film titled as "Jatt & Juliet 3" (the Film). The production cost of the Film as on balance sheet date is carried forward as work in progress on the basis that it is deemed recoverable from the future income/revenue of the Film. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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2 |
Employees |
2024 |
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Number |
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Average number of persons employed by the company |
11 |
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3 |
Debtors |
2024 |
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£ |
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Trade debtors |
800,000 |
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VAT receivable |
28,696 |
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Other debtors |
630 |
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829,326 |
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4 |
Creditors: amounts falling due within one year |
2024 |
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£ |
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Trade creditors |
76,003 |
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Advance for expenses |
2,283,000 |
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Taxation and social security costs |
51,001 |
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2,410,004 |
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5 |
Related party transactions |
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During the period ending 31 January 2024, the Company paid £6,000 to Manjot Singh Bajwa towards his fee and reimbursement of production expenses. Mr. Manjot Singh Bajwa is the Director of the Company. |
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6 |
Controlling party |
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Mr Manjot Singh Bajwa, Director and PSC is the ultimate controlling party of the Company. |
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7 |
Other information |
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TU PRODUCTIONS LTD is a private company limited by shares and incorporated in England. Its registered office is: |
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Flat 16 |
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23 Kenyon Way |
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Slough |
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England |
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SL3 8ES |