Accounts Submission

AFRICAN BROADCASTING CORPORATION (ABCTV) LTD - Company Information

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Company Registration Number:
03395697 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2018

Period of accounts

Start date: 01 August 2017

End date: 31 July 2018

Contents of the Financial Statements

for the Period Ended 31 July 2018


Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 9

Directors' Report Period Ended 31 July 2018

The directors present their report with the financial statements of the company for the period ended 31 July 2018

Principal Activities

Broadcasting and media

Political and charitable donations

There were no charitable donations during the year. No contributions to political organisations were made during the year.

Company policy on the employment of disabled persons

It is the company’s policy to give employment to disabled persons wherever practicable. At present none of our full time staff is registered disabled.

Directors

The directors shown below have held office during the whole of the period from 01 August 2017 to 31 July 2018
Alistair Soyode

This report was approved by the board of directors on 29 October 2018
And Signed On Behalf Of The Board By:

Name: Alistair Soyode
Status: Director

Profit and Loss Account

for the Period Ended 31 July 2018

	2018 £	2017 £
Turnover	554,203	282,906
Cost of sales	(349,428)	(348,853)
Gross Profit or (Loss)	204,775	(65,947)
Administrative Expenses	(25,305)	(77,626)
Operating Profit or (Loss)	179,470	(143,573)
Profit or (Loss) Before Tax	179,470	(143,573)
Profit or (Loss) for Period	179,470	(143,573)

The notes form part of these financial statements

Balance sheet

As at 31 July 2018

	Notes	2018 £	2017 £
Fixed assets
Tangible assets:	2	40,437	44,930
Total fixed assets:		40,437	44,930
Current assets
Debtors:	3		2,325
Cash at bank and in hand:		73,502	260,982
Total current assets:		73,502	263,307
Creditors: amounts falling due within one year:	4	( 41,627 )	( 481,857 )
Net current assets (liabilities):		31,875	( 218,550 )
Total assets less current liabilities:		72,312	( 173,620 )
Creditors: amounts falling due after more than one year:	5	( 1,094,697 )	( 1,028,235 )
Total net assets (liabilities):		( 1,022,385 )	( 1,201,855 )

The notes form part of these financial statements

Balance sheet continued

As at 31 July 2018

	2018 £	2017 £
Capital and reserves
Called up share capital:	200	200
Profit and loss account:	( 1,022,585 )	( 1,202,055 )
Shareholders funds:	( 1,022,385 )	( 1,201,855 )

For the year ending 31 July 2018 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 29 October 2018
And Signed On Behalf Of The Board By:

Name: Alistair Soyode
Status: Director

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 July 2018

1. Accounting policies

Basis of measurement and preparation

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible fixed assets depreciation policy

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life as follows

Notes to the Financial Statements

for the Period Ended 31 July 2018

2. Tangible assets

	Office equipment	Total
Cost	£	£
At 01 August 2017	134,950	134,950
Additions	-	-
Disposals	-	-
Revaluations	-	-
Transfers	-	-
At 31 July 2018	134,950	134,950
Depreciation
At 01 August 2017	90,020	90,020
Charge for year	4,493	4,493
On disposals	-	-
Other adjustments	-	-
At 31 July 2018	94,513	94,513
Net book value
At 31 July 2018	40,437	40,437
At 31 July 2017	44,930	44,930

Notes to the Financial Statements

for the Period Ended 31 July 2018

3. Debtors

	2018 £	2017 £
Trade debtors		2,325
Total		2,325

Notes to the Financial Statements

for the Period Ended 31 July 2018

4.Creditors: amounts falling due within one year note

	2018 £	2017 £
Trade creditors	37,086	51,825
Taxation and social security	4,541	5,032
Other creditors		425,000
Total	41,627	481,857

Notes to the Financial Statements

for the Period Ended 31 July 2018

5.Creditors: amounts falling due after more than one year

	2018 £	2017 £
Other creditors	1,094,697	1,028,235
Total	1,094,697	1,028,235

Director:		Alistair Soyode


Registered office:		3a Berol 25 Ashley Road London N17 9LJ


Company Registration Number:		03395697 (England and Wales)

Accounts Submission