H&C TV Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07366438 (England and Wales)

H&C TV LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

H Killen

J J Kupsky

R G Burdett

J Penney

D Qualls

C Ruibal

SECRETARY:

M U Rothman

REGISTERED OFFICE:

Pembroke House

Llantarnam Park Way

Cwmbran

Torfaen

NP44 3AU

REGISTERED NUMBER:

07366438 (England and Wales)

ACCOUNTANTS:

Green & Co

Chartered Certified Accountants

Pembroke House

Llantarnam Park Way

Cwmbran

Torfaen

NP44 3AU

FIXED ASSETS

Intangible assets

4

446,520

204,654

Tangible assets

5

20,934

5,200

Investments

6

3,086,570

3,086,570

3,554,024

3,296,424

CURRENT ASSETS

Debtors

7

610,448

421,214

Cash at bank

166,833

102,971

777,281

524,185

CREDITORS

Amounts falling due within one year

8

716,607

743,525

NET CURRENT ASSETS/(LIABILITIES)

60,674

(219,340

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,614,698

3,077,084

CREDITORS

Amounts falling due after more than one year

9

844,648

41,670

NET ASSETS

2,770,050

3,035,414

CAPITAL AND RESERVES

Called up share capital

10

13,836,430

13,487,008

Share premium

335,701

335,701

Retained earnings

(11,402,081

)

(10,787,295

)

SHAREHOLDERS' FUNDS

2,770,050

3,035,414

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th February 2023 and were signed on its behalf by:

H Killen - Director

1.	STATUTORY INFORMATION

H&C TV Limited 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Programme and production library

Programme and production library are valued at cost less accumulated amortisation. Bought in programme costs and commissioned programme costs are amortised over the period of the licence. Own production costs are written off in the year incurred, except when the programmes might run over several years in which case own production costs are written off over the useful economic life.

Website development costs

Website development costs are initially recognised at cost and amortised on a straight line basis over an expected useful economic life of 3 years.

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

-

33.33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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.

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 16 (2020 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Programme

and

Website

production

development

Goodwill

library

costs

Totals

£

£

£

£

COST

At 1st January 2021

167,869

3,141,802

163,749

3,473,420

Additions

-

519,175

-

519,175

At 31st December 2021

167,869

3,660,977

163,749

3,992,595

AMORTISATION

At 1st January 2021

167,869

2,961,133

139,764

3,268,766

Amortisation for year

-

261,569

15,740

277,309

At 31st December 2021

167,869

3,222,702

155,504

3,546,075

NET BOOK VALUE

At 31st December 2021

-

438,275

8,245

446,520

At 31st December 2020

-

180,669

23,985

204,654

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1st January 2021

79,462

Additions

21,138

At 31st December 2021

100,600

DEPRECIATION

At 1st January 2021

74,262

Charge for year

5,404

At 31st December 2021

79,666

NET BOOK VALUE

At 31st December 2021

20,934

At 31st December 2020

5,200

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st January 2021

and 31st December 2021

3,086,570

NET BOOK VALUE

At 31st December 2021

3,086,570

At 31st December 2020

3,086,570

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

71,804

86,695

Amounts owed by group undertakings

164,476

-

Other debtors

186,354

104,008

Called up share capital not paid

168,078

168,078

Prepayments

19,736

62,433

610,448

421,214

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

9,646

8,330

Trade creditors

340,474

391,085

Social security and other taxes

26,064

31,606

VAT

4,244

15,904

Other creditors

16,457

7,169

Killen Trust 2004

248,470

248,470

Accruals and deferred income

71,252

40,961

716,607

743,525

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans - 2-5 years

34,841

39,984

Bank loans more 5 yr by instal

-

1,686

Other loans - 1-2 years

809,807

-

844,648

41,670

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

1,686

10.	CALLED UP SHARE CAPITAL

Alloted, issued and fully paid:

Nominal

2021

2020

Number:

Class:

Value:

£

£

21,250

Ordinary A

£4.00

85,000

85,000

135,297

Ordinary

£0.01

1,353

1,353

87,248

Ordinary

£0.01

872

872

10,093,711

Preference Series A

£1.00

10,093,711

9,819,824

2,660,001

Preference Series B

£1.00

2,660,001

2,660,001

751,880

Preference Series C

£1.00

751,880

751,880

13,592,817

13,318,930

Alloted and issued:

Nominal

2021

2020

Number:

Class:

Value:

£

£

8,000

Ordinary A

£4.00

32,000

32,000

1,256,360

Ordinary

£0.01

12,564

11,904

199,049

Preference Series A

£1.00

199,049

124,174

243,613

168,078

The following shares were issued during the year at par:

273,887 Preference series A shares of £1.00 fully paid

74,875 Preference series A shares of £1.00 not paid

65,940 Preference series C shares of £1.00 not paid

11.	RELATED PARTY DISCLOSURES

At the year end date, the company owed The Killen Trust 2004 £248,470 (2020: £248,470); a trust in which H Killen is a beneficiary.