Sweet Tv Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 02363828 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2022

for

Sweet TV Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J P Conlan

Mrs N A Davies

SECRETARY:

Mrs N A Davies

REGISTERED OFFICE:

132a Bournemouth Road

Chandlers Ford

Eastleigh

Hampshire

SO53 3AL

REGISTERED NUMBER:

02363828 (England and Wales)

ACCOUNTANTS:

Northover & Co Accountants Ltd

132A Bournemouth Road

Chandler's Ford

Eastleigh

Hampshire

SO53 3AL

FIXED ASSETS

Intangible assets

4

1,805

2,166

Tangible assets

5

71,116

82,881

72,921

85,047

CURRENT ASSETS

Stocks

3,000

3,000

Debtors

77,891

108,009

Cash at bank

6,199

9,051

87,090

120,060

CREDITORS

Amounts falling due within one year

61,850

117,417

NET CURRENT ASSETS

25,240

2,643

TOTAL ASSETS LESS CURRENT LIABILITIES

98,161

87,690

CREDITORS

Amounts falling due after more than one year

(24,147

)

(34,147

)

PROVISIONS FOR LIABILITIES

8

(10,579

)

(12,612

)

NET ASSETS

63,435

40,931

CAPITAL AND RESERVES

Called up share capital

9

3,732

3,732

Capital redemption reserve

16,668

16,668

Retained earnings

43,035

20,531

SHAREHOLDERS' FUNDS

63,435

40,931

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 12 April 2023 and were signed on its behalf by:

Mr J P Conlan - Director

Mrs N A Davies - Director

1.	STATUTORY INFORMATION

Sweet 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 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil 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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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 Income Statement, 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 5 (2021 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2022

and 31 December 2022

23,610

AMORTISATION

At 1 January 2022

21,444

Amortisation for year

361

At 31 December 2022

21,805

NET BOOK VALUE

At 31 December 2022

1,805

At 31 December 2021

2,166

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2022

343,948

Additions

3,164

Disposals

(20,424

)

At 31 December 2022

326,688

DEPRECIATION

At 1 January 2022

261,067

Charge for year

12,906

Eliminated on disposal

(18,401

)

At 31 December 2022

255,572

NET BOOK VALUE

At 31 December 2022

71,116

At 31 December 2021

82,881

6.

LOANS

An analysis of the maturity of loans is given below:

2022

2021

£

£

Amounts falling due within one year or on demand:

Bank loans

10,020

10,020

Amounts falling due between one and two years:

Bank loans - 1-2 years

10,020

10,020

Amounts falling due between two and five years:

Bank loans - 2-5 years

14,127

24,127

7.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2022

2021

£

£

Net obligations repayable:

Within one year

-

4,394

8.	PROVISIONS FOR LIABILITIES

2022

2021

£

£

Deferred tax

10,579

12,612

Deferred

tax

£

Balance at 1 January 2022

12,612

Provided during year

(2,033

)

Balance at 31 December 2022

10,579

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

3,432

Ordinary

1

3,432

3,432

300

Preference

1

300

300

3,732

3,732

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2022 and 31 December 2021:

2022

2021

£

£

Mr J P Conlan

Balance outstanding at start of year

26,947

58,778

Amounts repaid

(15,312

)

(31,831

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

11,630

26,947

Mrs N A Davies

Balance outstanding at start of year

24,390

59,310

Amounts repaid

(15,312

)

(34,920

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,078

24,390

11.	RELATED PARTY DISCLOSURES

The company is controlled by its directors, Mrs N A Davies and Mr J P Conlan.