DQ Entertainment PLC Interim Results -5-
November 18 2013 - 2:00AM
UK Regulatory
As at 30 September 2013 the following companies formed part of
the Group:
Company Immediate Parent Country of % of Interest
Incorporation
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Subsidiaries
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DQ Entertainment (Mauritius) DQ Entertainment
Limited (DQM) Plc Mauritius 100
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DQ Entertainment (International)
Limited (DQ India) was
formerly known as "Animation
and Multimedia Private DQ Entertainment
Limited" (Mauritius) Limited India 75
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DQ Entertainment
DQ Entertainment (Ireland) (International)
Limited ( DQ Ireland) Limited Ireland 100
---------------------------------- ----------------------- ---------------- --------------
Joint Venture Company
DQ Entertainment Films by DQ India and
(International) Limited DQ Plc Ireland 100
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DQ Entertainment
DQ Power Kidz Private (International)
Limited Limited India 100
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Associate
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Method Animation SAS France 20
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The Company's registered address is 33-27, Athol Street,
Douglas, IM ILB, Isle of Man.
The Group is primarily engaged in the business of providing
traditional and digital animation for television, home video and
feature films. The Group also is engaged in exploitation of its
distribution rights to broadcasters, television channels, home
video distributors and others.
The functional currencies of the respective Group companies
are:
DQplc British Pound (GBP)
--------------------- --------------------
DQM US Dollar (USD)
--------------------- --------------------
DQIndia Indian Rupee (INR)
--------------------- --------------------
DQ Ireland Euro (EURO)
--------------------- --------------------
DQ Films Ltd Euro (EURO)
--------------------- --------------------
DQ Power Kidz Indian Rupee (INR)
--------------------- --------------------
Method Animation SAS Euro (EURO)
--------------------- --------------------
NOTE B - STANDARDS AND INTERPRETATIONS NOT YET APPLIED
The following new Standards and Interpretations, which are yet
to become mandatory, have not been applied in the Company's
Financial Statements.
Standard or Interpretation Effective for reporting periods starting on or after
--------------------------------------------------------------- -----------------------------------------------------
IFRS -7 Amendments related to the offsetting of assets and Annual periods beginning on or after 1 January 2013
liabilities and interim periods within those periods
IFRS -9 Reissue to include requirements for the Annual periods beginning on or after 1 January 2013
classification and measurement of financial
liabilities
and incorporate existing derecognition requirements
IFRS 9 Financial instruments-classification and Annual periods beginning on or after 1 January 2015
measurement of
Financial assets
IFRS -10 Consolidated Financial Statements Annual periods beginning on or after 1 January 2013
IFRS 11 Joint Arrangements Annual periods beginning on or after 1 January 2013
IFRS -12 Disclosure of interests in other entities Annual periods beginning on or after 1 January 2013
IFRS -13 Fair Value Measurement Annual periods beginning on or after 1 January 2013
IAS-1 Presentation of financial statements - Amendments Annual periods beginning on or after 1 July 2012
to revise the
way other comprehensive income in presented
IAS-12 Income taxes on deferred tax Annual periods
beginning on or after
1 January, 2012
IAS -19 Amended standard resulting from the post-employment Annual periods
benefits and termination benefits projects beginning on or after
1 January 2013
IAS-27 Consolidated and separate financial statements - Annual periods beginning on or after 1 January 2013
reissued
as IAS 27 separate financial statements(as amended
in 2011)
IAS -28 Investments in Associates and Joint Ventures Annual periods beginning on or after 1 January 2013
IAS-34 Interim Finacial reporting - Amendments resulting Annual period beginning on or after 1 January 2011
from May 2010 annual improvements to IFRS
IAS-32 Offsetting financial assets and financial Annual period beginning on or after 1 January 2014
liabilities
IAS-36 Impairment of Assets - Amendments arising from Annual period beginning on or after 1 January 2014
recoverable amount disclosures for non-financial
assets
Based on the Company's current business model and accounting
policies, management does not expect any material impact on the
Company's financial statements when any of the other standards or
interpretations becomes effective.
The Company does not intend to apply any of these pronouncements
early.
1. Significant accounting policies
The condensed consolidated interim financial information should
be read in conjunction with the annual financial statements for the
year ended 31 March, 2013, which have been prepared in accordance
with International Financial Reporting Standards ('IFRS's)
In the opinion of management, all adjustments, which are of a
normal recurring nature and necessary for a fair presentation, have
been included. The Company has chosen to present the condensed
consolidated financial position & condensed consolidated income
statement, condensed consolidated comprehensive income statement,
condensed consolidated statement of cash flows and condensed
consolidated statement of changes in equity along with selected
explanatory notes. Accordingly, certain information and note
disclosures normally included in annual financial statements
prepared in accordance with IFRS have been condensed or omitted,
although the Company believes that the disclosures made are
adequate to make the information presented not misleading. These
condensedconsolidated financial statements have been prepared using
the same accounting policies that were applied in the preparation
of the Company's annual consolidated financial statements for the
year ended 31 March, 2013.
The directors have had regard to the 12 month period from the
date of approval of the interim financial statements and have
reviewed the forecasted cash flows. The Company has sufficient
resources to meet its on-going liabilities as they fall due.
NOTE C - SEGMENT REPORTING
Segment information is presented in respect of the Group's
business and geographical segments. The primary format, business
segments, is based on the Group's management and internal reporting
structure.
Segment results, assets and liabilities include items directly
attributable to a segment as well as those that can be allocated on
a reasonable basis. Unallocated items comprise mainly
interest-bearing loans, borrowings and expenses, and corporate
assets and expenses.
Segment capital expenditure is the total cost incurred during
the period to acquire segment assets that are expected to be used
for more than one period.
Business segments
The Company comprises the following main business segments:
Animation production:
The production services rendered to production houses and
training rendered for acquiring skills for production services in
relation to the production of animated television series and
movies.
Distribution:
The revenue generated from the exploitation of the distribution
rights of animated television series.
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