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MINDHOUSE CYBER LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
Mindhouse Cyber Ltd is a private company, limited by shares, incorporated in England & Wales, registration number 14405161. The company's registered office is 3rd Floor, Waverley House, 7-12 Noel Street, London, United Kingdom, W1F 8GQ.
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 nature of the Company’s principal activity means that there is significant expenditure during active television production phases and substantially lower costs outside of these periods. The Company’s robust financial planning and funding arrangements ensure operational continuity and financial stability throughout. Therefore, the fluctuating costs associated with our production cycles do not pose a threat to our status as a going concern. Furthermore, the Company’s immediate parent company has indicated its willingness to provide financial support in the 12 months from the date of signing the financial statements if required. As a result, the directors believe that it remains appropriate to continue to adopt the going concern basis in preparing these financial statements.
Revenue is 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. The following criteria must also be met before revenue is recognised:
Revenue in profit or loss relates to amounts earned in relation to the production of a television programme. Production funding is recognised in profit or loss based on the stage of completion. Revenue in relation to overspends is recognised as it arises in accordance with the stage of completion of the production.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
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