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MICHAEL WATT PRODUCTIONS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Michael Watt Productions Limited is a private company, limited by shares, incorporated in England and Wales, with its principal place of business and registered office address at 1st Floor, 47a Frith Street, London, W1D 4HT.
The principal activities of the Company are packaging and marketing of televised sporting events on a worldwide basis and theatrical and other entertainment production and investment.
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 following principal accounting policies have been applied:
Current asset unlisted investments are stated at the lower of cost and net realisable value.
Short term debtors are measured at the transaction price, less any impairment.
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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.
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans from related parties and other third parties.
Short term creditors are measured at the transaction price.
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