Bend It TV Limited Filleted accounts for Companies House (small and micro)

BEND IT TV LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08026801

Bend It TV Limited

Filleted Unaudited Financial Statements

31 March 2023

Bend It TV Limited

Statement of Financial Position

31 March 2023

	2023	2022
Note	£	£

Fixed assets

Tangible assets	5	190	379
Investments	6	2	2
		----	----
		192	381

Current assets

Debtors	7	1,775	38,581
Cash at bank and in hand		194,666	148,998
		---------	---------
		196,441	187,579

Creditors: amounts falling due within one year	8	73,777	67,156
		---------	---------
Net current assets		122,664	120,423
		---------	---------
Total assets less current liabilities		122,856	120,804
		---------	---------
Net assets		122,856	120,804
		---------	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	122,855	120,803
	---------	---------
Shareholders funds	122,856	120,804
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Bend It TV Limited

Statement of Financial Position (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 20 December 2023 , and are signed on behalf of the board by:

Ms G Chadha
Director

Company registration number: 08026801

Bend It TV Limited

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 99 Kenton Road, Kenton, Harrow, Middlesex, HA3 0AN, UK. The principal activity of the company is that of developing and producing television programmes.

2. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in Pound Sterling, which is the functional and presentation currency of the entity .

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

In the application of the Company's accounting policies, management are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from estimates. The directors do not believe there are any key sources of estimation, uncertainty or critical judgements.

Revenue recognition

The company earns revenue from the provision of services relating to the development and production of TV programmes. Revenue from development projects represents funding under development agreements with third parties and is only recognised when the funds have been expended on development costs. Revenue for production services is recognised in the accounting period when the services are rendered at an amount that reflects the consideration to which the entity expects to be entitled in exchange for fulfilling its performance obligations to customers.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	Straight line over 3 years

Investments

Investments in subsidiary undertakings are recognised at cost less accumulated impairment.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

3. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).

The company has no employee other than the director. The director received no remuneration from the company during the period.

4. Post balance sheet event

After the balance sheet date the company sold one of its wholly owned subsidiary Beecham House Limited.

5. Tangible assets

	Equipment
	£
Cost
At 1 April 2022 and 31 March 2023	4,454
	-------
Depreciation
At 1 April 2022	4,075
Charge for the year	189
	-------
At 31 March 2023	4,264
	-------
Carrying amount
At 31 March 2023	190
	-------
At 31 March 2022	379
	-------

6. Investments

	Shares in group undertakings	Shares in participating interests	Total
	£	£	£
Cost
At 1 April 2022 and 31 March 2023	1	1	2
	----	----	----
Impairment
At 1 April 2022 and 31 March 2023	–	–	–
	----	----	----

Carrying amount
At 31 March 2023	1	1	2
	----	----	----
At 31 March 2022	1	1	2
	----	----	----

7. Debtors

	2023	2022
	£	£
Trade debtors	–	26,100
Amounts owed by group undertakings and undertakings in which the company has a participating interest	–	1,649
Other debtors	1,775	10,832
	-------	--------
	1,775	38,581
	-------	--------

The amounts owed by group undertakings are unsecured, interest free and repayable on demand.

8. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	7,201	80
Other creditors	66,576	67,076
	--------	--------
	73,777	67,156
	--------	--------

9. Post balance sheet event

After the balance sheet date the company sold one of its wholly owned subsidiary Beecham House Limited.

10. Related party transactions

The company has taken advantage of the exemption conferred by FRS 102 from disclosing details of transactions with other wholly owned group companies.