|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
Lake End Pictures Ltd is a private limited liability company incorporated in England and Wales with its registered office at 40 Fairwater Road, Llandaff, Cardiff, CF5 2LE.
The principal activity of the Company is that of video production services.
The functional and presentational currency of the Company is £ sterling.
2.Accounting policies
|
|
|
Basis of preparation of financial statements
|
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 financial statements have been prepared on a going concern basis which is dependent upon the continued support of the shareholders. In the opinion of the directors the Company will continue to receive such financial support as may be required to enable it to meet its liabilities for at least 12 months following the date of their approval of the financial statements and on this basis have prepared the financial statements on a going concern basis.
Turnover comprises revenue recognised by the company in respect of video production services supplied during the year, exclusive of Value Added Tax.
Turnover is recognised in the period in which the services are provided.
|
|
|
Cash and cash equivalents
|
Cash is represented by cash in hand and deposits with financial institutions.
Short term creditors are measured at the transaction price.
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.
|