GAVIN KALIN PRODUCTIONS LIMITED
REGISTERED NUMBER:
08445965
BALANCE SHEET
AS AT
31 MARCH 2018
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current assets/(liabilities)
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Total assets less current liabilities
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The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The
financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
14 December 2018
.
The notes on pages 2 to 3 form part of these financial statements.
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GAVIN KALIN PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
Gavin Kalin Productions Limited is a private company limited by shares and incorporated in England. The address of the registered office is The Basement, 81 Marylands Road, London W9 2DS.
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 Section 1A of
Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
.
The following principal accounting policies have been applied:
Turnover comprises revenue recognised by the company in respect of management fees, royalties and production profit shares received in the year.
Short term debtors are measured at transaction price, less any impairment. Other debtors include amounts advanced towards the funding of theatrical productions, these sums are recognised at the recoupable amount at the balance sheet date being the amount advanced, less amounts recovered, plus anticipated returns after making provision for losses where recovery in full of the amounts advanced is not anticipated.
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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.
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, bank overdraft and loans from other third parties.
Short term creditors are measured at the transaction price.
Interest income is recognised in the statement of comprehensive income using the effective interest method.
All borrowing costs are recognised in the statement of comprehensive income in the year in which they are incurred.
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GAVIN KALIN PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
2.
Accounting policies (continued)
Tax is recognised in the statement of comprehensive income, 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 balance sheet date in the countries where the company operates and generates income.
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The average monthly number of employees, including directors, during the year was
1
(2017 -
1
)
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Related party transactions
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At the balance sheet date creditors include £114,408 (2017: £396,839) due to G Kalin, the director of the company.
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