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LADY M UK PRODUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Lady M UK Productions is a private company limited by shares and is registered in England & Wales. The address of its registered office is 124 Finchley Road, London, United Kingdom, 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:
At the reporting date the Company had net liabilities of £8,405 and meets its day to day working capital requirements through the utilisation of recoupable but non returnable production funding.
After reviewing the Company's funding facilities, at the time of approving these financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the next twelve months. The directors therefore consider it appropriate to adopt the going concern basis in preparing the Company's financial statements.
Revenue comprises recharged production costs.
Stocks comprise theatre production costs which are recorded as a current asset. Theatre production costs are amortised to the Statement of Income and Retained Earnings over the period in which rights to the relevant production are exploited by the Company.
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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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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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