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TOUCHSTONE COMMUNICATIONS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2024
Touchstone Communications Limited is a private limited liability company incorporated in England and Wales, with its business and registered office address at 98 South Hill Park, London, NW3 2SN.
The principal activity of the Company is that of film and television production services.
The functional and presentational currency of the Company is £ Sterling.
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:
The financial statements have been prepared on a going concern basis which is dependent upon the continued support of the director and shareholder. In the opinion of the director, the Company will continue to receive such financial support as may be required to enable it to meet its liabilities for at least 12 months following the date of his approval of the financial statements and on this basis he has prepared the financial statements on a going concern basis.
Turnover comprises revenue recognised by the Company in respect of services supplied during the year, exclusive of Value Added Tax.
Revenue is recognised in the period in which services are supplied.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is provided on the following basis:
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Fixtures, fittings & equipment
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Listed investments are initially measured at cost, subsequently restated at fair value at the reporting date with any gains or losses recognised in the Statement of Comprehensive Income.
Short term debtors are measured at the transaction price, less any impairment.
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