NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
Bushbranch Films Limited is a limited company incorporated in England and Wales, with its principal place of business and registered office address at Suite 3, Old King's Head Court, 11 High Street, Dorking, Surrey, RH4 1AR.
The principal activity of the company during the year was the production of a documentary film.
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
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The following principal accounting policies have been applied:
The directors have assessed the operations of the company, together with the company's expected cashflow and have determined that the company has, or can expect to have, sufficient working capital for its needs for at least the next twelve months from the date these accounts are approved and accordingly the accounts have been prepared on a going concern basis.
Revenue 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 Value Added Tax.
Distribution income is recognised at the start of the license period.
Project development costs carried forward under work in progress represent costs incurred on projects in development and are stated at the lower of cost and estimated net realisable value.
Short term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties
Short term creditors are measured at the transaction price.
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