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MEDIA & ACTIVISM
(A Company Limited by Guarantee)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2020
Media & Activism is a company limited by guarantee registered in England and Wales with its principal place of business at 12 Winnington Road, London, N2 0UB and its registered office address at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.
The company was incorporated on 24 January 2019 and commenced trading on the same date.
The principal activity of the Company is that of producing online video content, hosting live events that discuss current affairs, and producing educational material both online and print that are aimed primarily at students.
The Company's functional and presentational currency 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
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The following principal accounting policies have been applied:
The ongoing COVID-19 pandemic has not affected the Company's trading activities but the director continues to carefully monitor the situation.
The financial statements have been prepared on a going concern basis which is dependent upon the continued support of the director and shareholders of the Company. In the opinion of the director, 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 approval of the financial statements and on this basis the director has prepared the financial statements on a going concern basis.
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 and value added tax.
Turnover from ticket sales for live events is recognised when the events take place. Merchandise sales are recognised on delivery.
Interest income is recognised in profit or loss using the effective interest method.
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