True Vision East Limited - Accounts to registrar (filleted) - small 18.2
True Vision East Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2019 |
| FOR |
| TRUE VISION EAST LIMITED |
| TRUE VISION EAST LIMITED (REGISTERED NUMBER: 04661178) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| TRUE VISION EAST LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 OCTOBER 2019 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 18 Glasshouse Studios |
| Fryern Court Road |
| Fordingbridge |
| Hampshire |
| SP6 1QX |
| TRUE VISION EAST LIMITED (REGISTERED NUMBER: 04661178) |
| BALANCE SHEET |
| 31 OCTOBER 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 and authorised for issue on were signed on its behalf by: |
| TRUE VISION EAST LIMITED (REGISTERED NUMBER: 04661178) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2019 |
| 1. | STATUTORY INFORMATION |
| True Vision East Limited is a |
| 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 |
| Turnover |
| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Revenue received or receivable for work carried out in producing television programmes is recognised upon |
| delivery when the significant risks and rewards of ownership have been transferred to the buyer; the amount of |
| revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and |
| the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue not |
| meeting these conditions is deferred on the balance sheet. |
| Tangible assets |
| Tangible assets are recorded at cost less accumulated depreciation. Depreciation is calculated so as to write off |
| the cost of fixed assets, less their estimated residual values, over the expected useful economic lives of the |
| assets concerned. The principal annual rates used for this purpose are as follows: |
| Plant and machinery etc 25% on reducing balance |
| Stocks and work in progress |
| Stocks and work in progress are valued at the lower of cost and net realisable value. Net realisable value is |
| based on estimated selling price less any further costs expected to be incurred to completion. |
| Production costs are recognised in work in progress until programmes are delivered and as a cost of sale as |
| soon as programmes are delivered and related production revenues are recognised. |
| Development costs are written off in the year in which they are incurred except where they relate to a clearly |
| defined contract, the outcome of which has been assessed with reasonable certainty as to its success and |
| commercial viability. In such cases the expenditure is recognised as work in progress to the extent that its |
| recovery can be reasonably regarded as assured and the cost is written off against revenue over the period of |
| the contract. The costs of abortive productions are taken directly to profit or loss. |
| 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet 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. |
| TRUE VISION EAST LIMITED (REGISTERED NUMBER: 04661178) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 4. | TANGIBLE ASSETS |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 November 2018 |
| Additions |
| At 31 October 2019 |
| DEPRECIATION |
| At 1 November 2018 |
| Charge for year |
| At 31 October 2019 |
| NET BOOK VALUE |
| At 31 October 2019 |
| At 31 October 2018 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| Ordinary | £1 | 135 | 135 |