RAYMOND GUBBAY PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Raymond Gubbay Productions Limited is a private company limited by shares and is registered in England and Wales. The address of its registered office is 2 Canal Reach, C/O Sony Music Entertainment Ltd, London, N1C 4DB.
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.
Revenue relates to recharged costs which are recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Billing occurs quarterly in arrears, therefore an adjustment is made at the year end and income is accrued accordingly.
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Functional and presentational currency
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The Company's functional and presentational currency is GBP.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates.
Accruals
The company makes an estimate of accruals at the reporting date based on invoices received after the period end and work undertaken which has not been invoiced based on quotations or estimates of amounts that may be due for payment.
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The average monthly number of employees, including directors, during the year was 1 (2023 - 1).
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