H&C TV Limited - Accounts to registrar (filleted) - small 18.2
H&C TV Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| H&C TV LIMITED |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2017 |
| H&C TV LIMITED (REGISTERED NUMBER: 07366438) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| H&C TV LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST DECEMBER 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Pembroke House |
| Llantarnam Park Way |
| Cwmbran |
| Torfaen |
| NP44 3AU |
| H&C TV LIMITED (REGISTERED NUMBER: 07366438) |
| BALANCE SHEET |
| 31ST DECEMBER 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Share premium |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| H&C TV LIMITED (REGISTERED NUMBER: 07366438) |
| BALANCE SHEET - continued |
| 31ST DECEMBER 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered. |
| The financial statements were approved by the Board of Directors on behalf by: |
| H&C TV LIMITED (REGISTERED NUMBER: 07366438) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2017 |
| 1. | STATUTORY INFORMATION |
| H&C TV Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Goodwill |
| Programme and production library |
| Programme and production library are valued at cost less accumulated amortisation. Bought in programme |
| costs and commissioned programme costs are amortised over the period of the licence. Own production costs |
| are written off in the year incurred, except when the programmes might run over several years in which case |
| own production costs are written off over the useful economic life. |
| Website development costs |
| Website development costs are initially recognised at cost and amortised on a straight line basis over an |
| expected useful economic life of 3 years. |
| Tangible fixed assets |
| Plant and machinery | - |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, except to the |
| extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the balance sheet date. |
| H&C TV LIMITED (REGISTERED NUMBER: 07366438) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different |
| from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and |
| laws that have been enacted or substantively enacted by the year end and that are expected to apply to the |
| reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
| will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Programme |
| and | Website |
| production | development |
| Goodwill | library | costs | Totals |
| £ | £ | £ | £ |
| COST |
| At 1st January 2017 |
| Additions |
| At 31st December 2017 |
| AMORTISATION |
| At 1st January 2017 |
| Amortisation for year |
| At 31st December 2017 |
| NET BOOK VALUE |
| At 31st December 2017 |
| At 31st December 2016 |
| H&C TV LIMITED (REGISTERED NUMBER: 07366438) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2017 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| £ |
| COST |
| At 1st January 2017 |
| Additions |
| Disposals | ( |
) |
| At 31st December 2017 |
| DEPRECIATION |
| At 1st January 2017 |
| Charge for year |
| At 31st December 2017 |
| NET BOOK VALUE |
| At 31st December 2017 |
| At 31st December 2016 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Called up share capital not paid |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Other loans |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Invoice factoring |
| Killen Trust 2004 | 248,470 | 248,470 |
| Accruals and deferred income |
| H&C TV LIMITED (REGISTERED NUMBER: 07366438) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2017 |
| 8. | CALLED UP SHARE CAPITAL |
| Alloted, issued and fully paid: |
| Nominal | 2017 | 2016 |
| Number: | Class: | Value: | £ | £ |
| 21,250 | Ordinary A | £4.00 | 85,000 | 85,000 |
| 50,635 | Ordinary | £0.01 | 506 | 506 |
| 87,248 | Ordinary | £0.01 | 872 | 872 |
| 6,727,771 | Preference | £1.00 | 6,727,771 | 5,281,745 |
| 6,814,149 | 5,368,123 |
| Alloted and issued: |
| Nominal | 2017 | 2016 |
| Number: | Class: | Value: | £ | £ |
| 8,000 | Ordinary A | £4.00 | 32,000 | 32,000 |
| 541,908 | Ordinary | £0.01 | 5,419 | 4,810 |
| 37,419 | 36,810 |
| The following shares were issued during the year at par: |
| 982,611 Preference shares of £1.00 fully paid |
| 60,869 Ordinary shares of £0.01 not paid |
| 9. | RELATED PARTY DISCLOSURES |
| Included in the balance sheet at the end of the financial period, were the following loans from directors: J Kupsky £30,000; D Wolfe £15,000 and L Dillingham £10,000. These are unsecured convertible loan notes with a maturity date extended to November 2018. Interest has been accrued on the loan notes at a daily rate of 10% per annum, and the loan notes will continue to accrue interest post maturity until repaid by the company. |
| At the year end date, the company owed The Killen Trust 2004 £248,470 (2016: £248,470); a trust in which H |
| Killen is a beneficiary. |
| 10. | GOING CONCERN |
| At the balance sheet date, the company had net liabilities of £271,123. In light of this, certain key shareholders |
| have agreed to continue to support the company for the foreseeable future. The directors have, therefore, |
| prepared the financial statements on a going concern basis. |
| The financial statements do not reflect any adjustments that would be made if they were prepared on a basis |
| other than the going concern basis. |