Power On Television Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07579651 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Power On Television Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

L K Kjolsen

A Mcarthur

REGISTERED OFFICE:

15 Hyde End Lane

Ryeish Green

Reading

RG7 1ET

REGISTERED NUMBER:

07579651 (England and Wales)

ACCOUNTANTS:

EDMONDS ACCOUNTANCY LIMITED

Unit 11, Diddenham Bus Park,

Diddenham Court

Grazeley,

READING

Berkshire

RG7 1JQ

FIXED ASSETS

Tangible assets

4

1,349

945

CURRENT ASSETS

Stocks

314

300

Debtors

5

45,939

43,361

Cash at bank and in hand

33,600

102,131

79,853

145,792

CREDITORS

Amounts falling due within one year

6

34,859

90,655

NET CURRENT ASSETS

44,994

55,137

TOTAL ASSETS LESS CURRENT LIABILITIES

46,343

56,082

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

46,143

55,882

SHAREHOLDERS' FUNDS

46,343

56,082

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 31 December 2019 and were signed on its behalf by:

L K Kjolsen - Director

1.	STATUTORY INFORMATION

Power On Television Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Revenue is recognised for the provision of services as the contractual activity progresses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or

directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

20,729

Additions

719

At 31 March 2019

21,448

DEPRECIATION

At 1 April 2018

19,784

Charge for year

315

At 31 March 2019

20,099

NET BOOK VALUE

At 31 March 2019

1,349

At 31 March 2018

945

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

45,939

43,361

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

3,016

27,323

Taxation and social security

15,325

47,819

Other creditors

16,518

15,513

34,859

90,655