BLUE TOUCH PAPER PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Blue Touch Paper Productions Limited is a private limited company limited by shares and incorporated in England. The address of the registered office is 124 Finchley Road, London NW3 5JS.
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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The company meets its day to day working capital requirements through its own resources and third party loans which provide funds specifically to invest in theatrical productions.
The director has prepared forecasts and cash flow projections based on a number of potential scenarios. These, together with the financial support of its third party investors and cash held, indicate that the company has adequate resources to continue in operational existence for the foreseeable future.
After reviewing the forecasts and projections, at the time of approving these financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the next twelve months. The director therefore considers it appropriate to continue to adopt the going concern basis in preparing the company's financial statements.
Revenue comprises of fees and royalties received and is recognised in the statement of income and retained earnings in the period in which the services are provided.
Short term debtors are measured at 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 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, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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