TOUCH_BROADCASTING_LIMITE - Accounts

TOUCH BROADCASTING LIMITED - Company Information

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Company Registration No. 02425724 (England and Wales)

TOUCH BROADCASTING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

TOUCH BROADCASTING LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

TOUCH BROADCASTING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

13,624

15,596

Tangible assets

2,750

14,334

16,374

29,930

Current assets

Debtors

1,951,916

2,692,764

Cash at bank and in hand

428

351

1,952,344

2,693,115

Creditors: amounts falling due within one year

(1,899,786)

(2,187,495)

Net current assets

52,558

505,620

Total assets less current liabilities

68,932

535,550

Capital and reserves

Called up share capital

507,715

Profit and loss account

(438,783)

27,835

Shareholders' funds

68,932

535,550

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 29 September 2016

Mr S. Orchard

Director

Company Registration No. 02425724

TOUCH BROADCASTING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements have been prepared on a going concern basis. The company is reliant on the continuing support of the parent company. Having considered this and other available information, the directors are of the opinion that the company is able to continue its trading activities for the forseeable future.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

1.4

Licences

Licences and relaunch costs are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

33.3% on cost

TOUCH BROADCASTING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 January 2015

19,344

37,576

56,920

Additions

5,000

1,406

6,406

At 31 December 2015

24,344

38,982

63,326

Depreciation

At 1 January 2015

3,748

23,243

26,991

Charge for the year

6,972

12,989

19,961

At 31 December 2015

10,720

36,232

46,952

Net book value

At 31 December 2015

13,624

2,750

16,374

At 31 December 2014

15,596

14,334

29,930

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £629,037 (2014 - £721,505).

Share capital

2015

2014

Allotted, called up and fully paid

507,715 Ordinary of £1 each

507,715

Ultimate parent company

The ultimate controlling party is Quidem Limited.