NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2021
Hat Trick (SLD) Limited is a limited company incorporated in England and Wales, and its registered office is 7 Savoy Court, London, United Kingdom, WC2R 0EX and trading office address at 33 Oval Road, London, NW1 7EA.
The principal activity of the Company continued to be that of creation of content for broadcast media.
The functional and presentational currency of the Company is £ Sterling.
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:
The Company's forecast and projections, taking account of reasonably possible changes in trading performance and the continued financial support from the parent Company, show that the Company should be able to continue to meet its operating liabilities as they fall due. Therefore the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for at least 12 months from the date of their approval of the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding Value Added Tax.
Production revenue and gross profit are recognised over the period of the production, on a stage of completion and straight line basis respectively.
Short term debtors are measured at the transaction price, less any impairment.
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 and loans from related parties.
Short term creditors are measured at the transaction price.
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