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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Eaglet PP Limited is a private company, limited by shares, registered in England and Wales, registration number 15053634. The registered office address is 14-16 Great Pulteney Street, London, W1F 9ND.
The principal activity of the company is that of television programme production activities.
The company was incorporated on 7 August 2023 and commenced trading on the same date.
During the year, the company extended its accounting period from 31 August 2024 to 31 December
2024.
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 company's functional and presentational currency is pound sterling.
The following principal accounting policies have been applied:
Turnover from television programme production activities is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Interest income is recognised in profit or loss using the effective interest method.
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 company is eligible to claim a tax credit on production costs. The tax credit comprises relief based on total net costs and an additional deduction for enhanceable expenditure. The company claims a payment based on the amount of enhanced expenditure and carries losses arising from total net costs forward against future profit.
Work in progress represents the cost of television programme production activities. Production costs are amortised to the profit and loss account over the period in which the rights to the television programme is being exploited by the company.
Short-term debtors are measured at transaction price, less any impairment.
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