Registered Number 09138175
PANIC HOUSE FILMS LIMITED
31 July 2015
Notes to the Abbreviated Accounts for the period ended 31 July 2015
Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008. As at 31 July 2015, the company's balance sheet showed a negative profit and loss account. The company is expected to generate a profit within the next 12 months of the signing of the financial statements, and therefore the director considers it appropriate to prepare financial statements on a going concern basis.
Other accounting policies
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting
Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied
consistently (except as otherwise stated).