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Registration number: 07160976

TV Commercials UK Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

image-name
 

TV Commercials UK Ltd

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3 to 4

Notes to the Financial Statements

5 to 9

 

TV Commercials UK Ltd

Company Information

Directors

Mr Nicholas Ian Sturt Sneath

Mrs Victoria Louise Sneath

Registered office

Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

Accountants

Lucraft Hodgson & Dawes LLP
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

 

TV Commercials UK Ltd

Directors' Report for the Year Ended 28 February 2023

The directors present their report and the financial statements for the year ended 28 February 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr Nicholas Ian Sturt Sneath

Mrs Victoria Louise Sneath (appointed 31 March 2022)

Small companies provision statement

This report has 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.

Approved by the Board on 13 November 2023 and signed on its behalf by:

.........................................
Mr Nicholas Ian Sturt Sneath
Director

   
     
 

TV Commercials UK Ltd

(Registration number: 07160976)
Balance Sheet as at 28 February 2023

Note

2023
 £

2022
 £

Fixed Assets

 

Tangible Assets

5

13,796

13,677

Current assets

 

Debtors

6

15,661

14,400

Cash at bank and in hand

 

18,118

59,283

 

33,779

73,683

Creditors: Amounts falling due within one year

7

(35,123)

(35,076)

Net current (liabilities)/assets

 

(1,344)

38,607

Total assets less current liabilities

 

12,452

52,284

Creditors: Amounts falling due after more than one year

7

(8,578)

(16,199)

Provisions for liabilities

(2,621)

(2,926)

Net assets

 

1,253

33,159

Capital and Reserves

 

Called up share capital

1

1

Profit and loss account

1,252

33,158

Total equity

 

1,253

33,159

For the financial year ending 28 February 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 13 November 2023 and signed on its behalf by:
 

 

TV Commercials UK Ltd

(Registration number: 07160976)
Balance Sheet as at 28 February 2023

.........................................
Mr Nicholas Ian Sturt Sneath
Director

   
     
 

TV Commercials UK Ltd

Notes to the Financial Statements for the Year Ended 28 February 2023

1

General information

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

The address of its registered office is:
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF
United Kingdom

The principal place of business is:
116 Holmes Avenue
Hove
BN3 7LE

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.

The financial statements are presented in Sterling, which is the functional currency of the company.

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

Computer equipment

25% on reducing balance

 

TV Commercials UK Ltd

Notes to the Financial Statements for the Year Ended 28 February 2023

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

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.

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.

 

TV Commercials UK Ltd

Notes to the Financial Statements for the Year Ended 28 February 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2023
 No.

2022
 No.

Administration and support

2

1

2

1

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

4,599

4,559

5

Tangible Assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2022

36,522

36,522

Additions

4,718

4,718

At 28 February 2023

41,240

41,240

Depreciation

At 1 March 2022

22,845

22,845

Charge for the year

4,599

4,599

At 28 February 2023

27,444

27,444

Carrying amount

At 28 February 2023

13,796

13,796

At 28 February 2022

13,677

13,677

 

TV Commercials UK Ltd

Notes to the Financial Statements for the Year Ended 28 February 2023

6

Debtors

2023
£

2022
£

Trade Debtors

15,661

14,400

15,661

14,400

7

Creditors

Creditors: amounts falling due within one year

Note

2023
 £

2022
 £

Due within one year

 

Loans and borrowings

8

22,856

404

Trade Creditors

 

542

939

Social security and other taxes

 

9,635

12,056

Accrued expenses

 

1,120

950

Corporation tax liability

970

20,727

 

35,123

35,076

Due after one year

 

Loans and borrowings

8

8,578

16,199

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

8,578

16,199

 

TV Commercials UK Ltd

Notes to the Financial Statements for the Year Ended 28 February 2023

8

Loans and borrowings

2023
 £

2022
 £

Non-current loans and borrowings

Bank borrowings

-

16,199

Other borrowings

8,578

-

8,578

16,199

2023
 £

2022
 £

Current loans and borrowings

Bank borrowings

4,021

-

Other borrowings

18,835

404

22,856

404