DDQ (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
DDQ (UK) Limited is a private company,limited by shares and incorporated in England. The address of the registered office is 124 Finchley Road, London, NW3 5JS.
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 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 following principal accounting policies have been applied:
Turnover comprises revenue recognised by the company in respect of general management
services provided during the year, commissions receivable, its share of profits from its investments in theatrical productions and other production income receivable for the reporting period.
|
|
Investments in productions
|
Investments in theatrical productions are recognised at the recoupable amount at the balance sheet date being the amount invested less amounts recovered, plus anticipated profits after making provision for losses where recovery of outstanding investments in full is not anticipated.
Short term debtors are measured at transaction price, less any impairment.
|
|
Cash and cash equivalents
|
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.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
|