Channel 6 (Europe) Limited - Period Ending 2015-04-30

Registration number: 03451208

Channel 6 (Europe) Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2015
 

Principle Accounting Limited
Assocation of Accounting Technicians
Ribble Court
1 Mead Way
Shuttleworth Mead
Padiham
Lancashire
BB12 7NG

Channel 6 (Europe) Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Channel 6 (Europe) Limited
(Registration number: 03451208)
Abbreviated Balance Sheet at 30 April 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					17,573			5,287
Current assets
Stocks					1,500			1,250
Debtors					12,204			12,452
Cash at bank and in hand					19,500			38,713
					33,204			52,415
Creditors: Amounts falling due within one year					(34,903)			(40,641)
Net current (liabilities)/assets					(1,699)			11,774
Total assets less current liabilities					15,874			17,061
Provisions for liabilities					(3,515)			(808)
Net assets					12,359			16,253
Capital and reserves
Called up share capital		3			4			4
Profit and loss account					12,355			16,249
Shareholders' funds					12,359			16,253

For the year ending 30 April 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 11 January 2016 and signed on its behalf by:

.........................................
Mr Stephen Harper Westell
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Channel 6 (Europe) Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	15% Reducing balance
Motor Vehicles	25% Reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Channel 6 (Europe) Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2014		27,304			27,304
Additions		17,089			17,089
Disposals		(9,150)			(9,150)
At 30 April 2015		35,243			35,243
Depreciation
At 1 May 2014		22,017			22,017
Charge for the year		4,069			4,069
Eliminated on disposals		(8,416)			(8,416)
At 30 April 2015		17,670			17,670
Net book value
At 30 April 2015		17,573			17,573
At 30 April 2014		5,287			5,287

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		4			4			4			4

4	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr Stephen Harper Westell
Opening balance	11,284	-	-	-
Advanced by Director	10,650	-	-	-
Withdrawn	-	11,642	-	-

Page 3

Channel 6 (Europe) Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

Closing balance	-	10,293	-	-
	21,934	21,934	-	-

Page 4