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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
HTM (USG) Limited is a private limited liability company incorporated in England and Wales. The Company’s registered office address is 7 Savoy Court, London, WC2R 0EX with its principal place of business at 33 Oval Road, London, NW1 7EA.
The principal activity of the Company is that of creation of content for broadcast media.
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 Company's forecast and projections, taking account of reasonably possible changes in trading performance and the continued financial support from a shareholder, show that the Company should be able to continue to meet its operating liabilities as they fall due. Therefore the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for at least 12 months from the date of their approval of the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is £ Sterling.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
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 reporting date in the countries where the Company operates and generates income.
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