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NEW ADVENTURES PARTNERSHIPS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
New Adventures Partnerships Limited is a private company limited by shares and incorporated in England. The address of the Registered office is 124 Finchley Road, London, NW3 5JS.
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 meets its day to day working capital requirement through the support from its parent company. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing it's 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.
Revenue comprises fees received from the provision of various services and recognised over a period of the contract or when the service has been delivered and film royalties income which is recognised when received.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short-term creditors are measured at the transaction price.
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Payment to parent charity under Gift Aid
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The company has adopted a policy of paying all its taxable profit where relevant to its parent charity under deed of covenants. These payments are recognised as distributions through equity. In these circumstances an operating profit would exist at the balance sheet date , whilst no tax charge would arise on the basis that the payment under the deed of covenant is expected be made within nine months of the reporting date.
The distribution is recognised when the company has made an irrecoverable commitment to the parent charity to pay the taxable profit.
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