Drummer TV Limited 07881402 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is TV production Digita Accounts Production Advanced 6.30.9574.0 true true 07881402 2022-04-01 2023-03-31 07881402 2023-03-31 07881402 core:CurrentFinancialInstruments 2023-03-31 07881402 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 07881402 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 07881402 core:FurnitureFittingsToolsEquipment 2023-03-31 07881402 core:LandBuildings 2023-03-31 07881402 core:MotorVehicles 2023-03-31 07881402 core:OtherPropertyPlantEquipment 2023-03-31 07881402 bus:SmallEntities 2022-04-01 2023-03-31 07881402 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07881402 bus:FullAccounts 2022-04-01 2023-03-31 07881402 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 07881402 bus:RegisteredOffice 2022-04-01 2023-03-31 07881402 bus:Director1 2022-04-01 2023-03-31 07881402 bus:Director2 2022-04-01 2023-03-31 07881402 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07881402 core:FurnitureFittings 2022-04-01 2023-03-31 07881402 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 07881402 core:LandBuildings 2022-04-01 2023-03-31 07881402 core:MotorVehicles 2022-04-01 2023-03-31 07881402 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 07881402 core:PlantMachinery 2022-04-01 2023-03-31 07881402 countries:England 2022-04-01 2023-03-31 07881402 2022-03-31 07881402 core:FurnitureFittingsToolsEquipment 2022-03-31 07881402 core:LandBuildings 2022-03-31 07881402 core:MotorVehicles 2022-03-31 07881402 core:OtherPropertyPlantEquipment 2022-03-31 07881402 2021-04-01 2022-03-31 07881402 2022-03-31 07881402 core:CurrentFinancialInstruments 2022-03-31 07881402 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 07881402 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 07881402 core:FurnitureFittingsToolsEquipment 2022-03-31 07881402 core:LandBuildings 2022-03-31 07881402 core:MotorVehicles 2022-03-31 07881402 core:OtherPropertyPlantEquipment 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 07881402

Drummer TV Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Drummer TV Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Drummer TV Limited

Company Information

Directors

R Drummond-Hay

T Summers

Registered office

26 Berkeley Square
Clifton
Bristol
BS8 1HP

Accountants

Henry and Banwell Limited
Chartered Accountants
26 Berkeley Square
Clifton
Bristol
BS8 1HP

 

Drummer TV Limited

(Registration number: 07881402)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

563,200

500,811

Current assets

 

Debtors

5

204,573

158,143

Cash at bank and in hand

 

144,839

205,639

 

349,412

363,782

Creditors: Amounts falling due within one year

6

(92,570)

(202,065)

Net current assets

 

256,842

161,717

Total assets less current liabilities

 

820,042

662,528

Creditors: Amounts falling due after more than one year

6

(279,325)

(283,125)

Net assets

 

540,717

379,403

Capital and reserves

 

Called up share capital

4

4

Retained earnings

540,713

379,399

Shareholders' funds

 

540,717

379,403

For the financial year ending 31 March 2023 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 accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 October 2023 and signed on its behalf by:
 

.........................................
R Drummond-Hay
Director

.........................................
T Summers
Director

 
     
 

Drummer TV Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
26 Berkeley Square
Clifton
Bristol
BS8 1HP

The principal place of business is:
Crusader House
12 St Stephens Street
Bristol
BS1 1EL

These financial statements were authorised for issue by the Board on 31 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Drummer TV Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line

Fixtures and Fittings

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Drummer TV Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2022 - 14).

 

Drummer TV Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

448,944

25,480

28,387

103,218

606,029

Additions

51,140

-

59,251

14,474

124,865

Disposals

-

-

(34,632)

(79,007)

(113,639)

At 31 March 2023

500,084

25,480

53,006

38,685

617,255

Depreciation

At 1 April 2022

-

5,742

28,387

71,090

105,219

Charge for the year

-

6,370

18,130

16,013

40,513

Eliminated on disposal

-

-

(28,387)

(63,290)

(91,677)

At 31 March 2023

-

12,112

18,130

23,813

54,055

Carrying amount

At 31 March 2023

500,084

13,368

34,876

14,872

563,200

At 31 March 2022

448,945

19,738

-

32,128

500,811

Included within the net book value of land and buildings above is £500,084 (2022 - £448,945) in respect of long leasehold land and buildings.
 

 

Drummer TV Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

70,440

69,131

Amounts owed by related parties

37,956

-

Prepayments

 

6,837

12,852

Other debtors

 

89,340

76,160

   

204,573

158,143

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

34,275

15,599

Trade creditors

 

21,407

42,529

Taxation and social security

 

19,403

23,269

Accruals and deferred income

 

4,500

2,600

Other creditors

 

12,985

118,068

 

92,570

202,065

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

279,325

283,125