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MAXIMILIAN FILMS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 15 JUNE 2025
The company Maximilian Films Ltd was incorporated in England and Wales on 21 December 2023 and started trading on the same date.
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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Production costs incurred during the period are recognised as work in progress on the balance sheet until the film is delivered to the commissioning distributor.
Upon delivery of the film, it is acquired by the commissioning distributor and the production costs are then charged to the profit and loss account as cost of sales.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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