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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
Wojtek Animation Limited is a private limited company incorporated in Scotland. Its registered office is at 1 Summerhall, Edinburgh, Scotland, EH9 1PL.
The financial activity of the company is television production.
The financial statements are presented in Sterling (£), which is the functional currency of the company.
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:
Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax.
Where the company has incomplete productions at the year end, income and expenditure for these productions are recognised so that they reflect the partial performance of the company's contractual obligations. For such productions the amount of revenue reflects the value of work performed. Revenue due but not received is included in debtors and payments on account in excess of the relevent amount of revenue due are included in creditors.
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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Basic financial instruments
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The company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Cash and cash equivalents comprise cash balances and call deposits.
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