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PARADINE CO-PRODUCTIONS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2019
Paradine Co-Productions Limited is a limited liability company incorporated in England and Wales with its registered office at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD, its principal place of business is at 25 Shepherd Market, London W1J 7PP.
The principal activity of the company continued to be that of cinematographic films.
The financial statements are prepared in £ Sterling, which is the functional of the company.
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 financial statements have been prepared on a going concern basis which is dependent upon the continued provision of an unsecured, interest-free loan of £45,834 (2018 - £45,834) from a company controlled by 2 of the directors. In the opinion of the directors 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 their approval of the financial statements and on this basis they have prepared the financial statements on a going concern basis.
Turnover represents film revenues receivable, exclusive of Value Added Tax.
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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 instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from other third parties.
Short term creditors are measured at the transaction price.
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The average monthly number of employees, including directors, during the year was 3 (2018 - 3).
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