Reporting PeriodThe company was incorporated on 12 April 2017 and these financial statements are the secondfinancial statements it has prepared. The financial statements have been prepared for a periodlonger than one year to align with the production of the film, and the final cessation of theproduction.Cash at bank and in handCash at bank and in hand are basic financial assets and include cash in hand, deposits held atcall with banks, other short-term liquid investments with original maturities of three months orless, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.Financial instrumentsThe company has elected to apply the provisions of Section 11 'Basic Financial Instruments'and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financialinstruments.Financial instruments are recognised in the company's statement of financial position when thecompany becomes party to the contractual provisions of the instrument.Financial assets and liabilities are offset, with the net amounts presented in the financialstatements, when there is a legally enforceable right to set off the recognised amounts andthere is an intention to settle on a net basis or to realise the asset and settle the liabilitysimultaneously.Basic financial assetsBasic financial assets, which include debtors, are initially measured at transaction priceincluding transaction costs and are subsequently carried at amortised cost using the effectiveinterest method unless the arrangement constitutes a financing transaction, where thetransaction is measured at the present value of the future receipts discounted at a market rateof interest. Financial assets classified as receivable within one year are not amortised.Classification of financial liabilitiesFinancial liabilities and equity instruments are classified according to the substance of thecontractual arrangements entered into. An equity instrument is any contract that evidences aresidual interest in the assets of the company after deducting all of its liabilities.Basic financial liabilitiesBasic financial liabilities, including creditors, bank loans, loans from fellow group companies andpreference shares that are classified as debt, are initially recognised at transaction price unlessthe arrangement constitutes a financing transaction, where the debt instrument is measured atthe present value of the future payments discounted at a market rate of interest. Financialliabilities classified as payable within one year are not amortised.Debt instruments are subsequently carried at amortised cost, using the effective interest rateTransactions in currencies other than pounds sterling are recorded at the rates of exchangeprevailing at the dates of the transactions. At each reporting end date, monetary assets andliabilities that are denominated in foreign currencies are retranslated at the rates prevailing onthe reporting end date. Gains and losses arising on translation are included in the incomestatement for the period.Equity instrumentsEquity instruments issued by the company are recorded at the proceeds received, net of directissue costs. Dividends payable on equity instruments are recognised as liabilities once they areno longer at the discretion of the company.Foreign Currency translationsTransactions in currencies other than pounds sterling are recorded at the rates of exchangeprevailing at the dates of the transactions. At each reporting end date, monetary assets andliabilities that are denominated in foreign currencies are retranslated at the rates prevailing onthe reporting end date. Gains and losses arising on translation are included in the incomestatement for the period.TaxationThe tax expense represents the sum of the tax currently recoverable and deferred tax.Current taxThe tax currently payable is based on relievable losses for the year. Relievable losses differfrom net losses as reported in the income statement because they include an additionaldeduction relating to qualifying film development expenditure and exclude items of income orexpense that are taxable or deductible in other years, as well as items that are never taxable ordeductible. The company's tax position is calculated using tax rates that have been enacted orsubstantively enacted by the reporting end date.Deferred taxDeferred tax liabilities are generally recognised for all timing differences and deferred tax assetsare recognised to the extent that it is probable that they will be recovered against the reversal ofdeferred tax liabilities or other future taxable profits. Such assets and liabilities are notrecognised if the timing difference arises from goodwill or from the initial recognition of otherassets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.The carrying amount of deferred tax assets is reviewed at each reporting end date and reducedto the extent that it is no longer probable that sufficient taxable profits will be available to allowall or part of the asset to be recovered. Deferred tax is calculated at the tax rates that areexpected to apply in the period when the liability is settled or the asset is realised. Where itemsrecognised in other comprehensive income or equity are chargeable to or deductible for taxpurposes, the resulting current or deferred tax expense or income is presented in the samecomponent of comprehensive income or equity as the transaction or other event that resulted inthe tax expense or income. Deferred tax assets and liabilities are offset when the company hasa legally enforceable right to offset current tax assets and liabilities and the deferred tax assetsand liabilities relate to taxes levied by the same tax authority