Ahlulbayt Television Network Ltd - Period Ending 2016-03-31

Registration number: 06818023

Ahlulbayt Television Network Ltd

Unaudited Abbreviated Accounts
 
for the Year Ended 31 March 2016

Ahlulbayt Television Network Ltd

Contents

Abbreviated Balance Sheet	1
Notes to the Abbreviated Accounts	2 to 3

Ahlulbayt Television Network Ltd

(Registration number: 06818023)
Abbreviated Balance Sheet as at 31 March 2016

	Note	2016  £	2015  £
Fixed assets
Intangible assets	2	32,500	32,500
Tangible assets	2	28,121	35,890
		60,621	68,390
Current assets
Debtors		6,300	2,070
Cash at bank and in hand		8,384	3,075
		14,684	5,145
Creditors: Amounts falling due within one year		(267,853)	(325,472)
Net current liabilities		(253,169)	(320,327)
Total assets less current liabilities		(192,548)	(251,937)
Accruals and deferred income		(1,500)	(1,500)
Net liabilities		(194,048)	(253,437)
Capital and reserves
Called up share capital	3	1,001	1,001
Profit and loss account		(195,049)	(254,438)
Shareholders deficit		(194,048)	(253,437)

For the year ending 31 March 2016 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 director on 28 December 2016

.........................................
Mr A Taki
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Ahlulbayt Television Network Ltd

Notes to the Abbreviated Accounts

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.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Intangible assets

Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.

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
Plant and Machinery	25% Reducing Balance Method
Fixtures and fittings	25% Reducing Balance Method
Equipment	25% Reducing Balance Method

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Page 2

Ahlulbayt Television Network Ltd

Notes to the Abbreviated Accounts (continued)

2

Fixed assets

	Intangible assets £	Tangible assets £	Total £
Cost
At 1 April 2015	32,500	151,228	183,728
Additions	-	1,605	1,605
At 31 March 2016	32,500	152,833	185,333
Depreciation
At 1 April 2015	-	115,338	115,338
Charge for the year	-	9,374	9,374
At 31 March 2016	-	124,712	124,712
Net book value
At 31 March 2016	32,500	28,121	60,621
At 31 March 2015	32,500	35,890	68,390

3

Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary of £1 each	1,000	1,000	1,000	1,000

4

Related party transactions

5

Control

The director is the controlling party by virtue of his controlling shareholding in the company.

Page 3