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BAD COMPANY ENTERTAINMENT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
Bad Company Entertainment Limited is a private company, limited by shares, registered in England and Wales, registration number 01184335. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the company continued to be that of supplying the services of group Bad Company as recording artistes and composers throughout the world excluding the United Kingdom and the Irish Republic.
2.Accounting policies
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Basis of preparation of financial statements
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The finanacial statements have been prepared under the historical cost convension unless otherwise specified within these accounting policies and in accordance with Section 1A of the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
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Functional and presentation currency
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The company's functional and presentational currency is pound sterling.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from the rendering of services is recognised when it is probable the company will receive the rights to the consideration due under the contract.
Royalties receivable are recognised at the year end date by the company.
Interest income is recognised in profit or loss using the effective interest method.
Short-term debtors are measured at transaction price, less any impairment.
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.
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as other debtors and creditors and loans with related parties.
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