0 false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2021 - FRS102_2021 11,423 11,422 1 11,423 1 xbrli:pure xbrli:shares iso4217:GBP 08818795 2022-07-01 2023-06-30 08818795 2023-06-30 08818795 2022-06-30 08818795 2021-07-01 2022-06-30 08818795 2022-06-30 08818795 bus:Director1 2022-07-01 2023-06-30 08818795 core:WithinOneYear 2023-06-30 08818795 core:WithinOneYear 2022-06-30 08818795 core:ShareCapital 2023-06-30 08818795 core:ShareCapital 2022-06-30 08818795 core:RetainedEarningsAccumulatedLosses 2023-06-30 08818795 core:RetainedEarningsAccumulatedLosses 2022-06-30 08818795 bus:SmallEntities 2022-07-01 2023-06-30 08818795 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 08818795 bus:FullAccounts 2022-07-01 2023-06-30 08818795 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 08818795 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 08818795 core:OfficeEquipment 2022-07-01 2023-06-30 08818795 core:OfficeEquipment 2023-06-30 08818795 core:OfficeEquipment 2022-06-30
COMPANY REGISTRATION NUMBER: 08818795
DNA TV Limited
Filleted Unaudited Financial Statements
30 June 2023
DNA TV Limited
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
1
Current assets
Stocks
425,345
310,349
Debtors
6
65,417
117,526
Cash at bank and in hand
3,043,926
3,349,822
------------
------------
3,534,688
3,777,697
Creditors: amounts falling due within one year
7
( 2,161,480)
( 1,804,309)
------------
------------
Net current assets
1,373,208
1,973,388
------------
------------
Total assets less current liabilities
1,373,208
1,973,389
------------
------------
Net assets
1,373,208
1,973,389
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,373,108
1,973,289
------------
------------
Shareholders funds
1,373,208
1,973,389
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
DNA TV Limited
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 9 November 2023 , and are signed on behalf of the board by:
A Macdonald
Director
Company registration number: 08818795
DNA TV Limited
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Orange Street, Haymarket, London, WC2H 7DQ. The address of the principal place of business is 10 Amwell Street, London EC1R 1UQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost basis, and in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland. The financial statements are prepared in sterling, which is the functional currency of the entity.
Production costs
a) Projects in production
These represent acquisition or production costs incurred on incomplete productions and are disclosed at the lower of cost and net realisable value, having taken into account third part financing.
b) Unamortised production costs
On delivery of the production and in the subsequent life cycle of the project's exploitation, costs are written off to the profit and loss account against income on a cost recovery basis.
Development costs
These costs represent amounts which have been invested in developing new projects. Where development advances received by the company are in the form of third party financing, development expenditure is matched against these advances to the extent that the advance is only repayable should any development project be subsequently produced. In all other circumstances, development costs are carried forward to the extent that they are deemed recoverable and are valued at the lower of cost and net realisable value.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for the design, development and production of a TV platform, stated net of discounts and of Value Added Tax. Revenue is recognised on the delivery of the product to the end user.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial assets Financial assets are recognised when the Company becomes a party to the contractual provisions of the financial instrument. The Company does not hold any third party financial assets. Loans and Receivables Trade receivables and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are initially recognised at fair value and are subsequently measured using the effective interest method less provision for any impairment. Financial liabilities and equity instruments Financial liabilities and equity are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Other financial liabilities (including borrowing and trade and other payables) are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: 9 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 July 2022 and 30 June 2023
11,423
11,423
--------
--------
Depreciation
At 1 July 2022
11,422
11,422
Charge for the year
1
1
--------
--------
At 30 June 2023
11,423
11,423
--------
--------
Carrying amount
At 30 June 2023
--------
--------
At 30 June 2022
1
1
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
1,473
35,540
Other debtors
63,944
81,986
--------
---------
65,417
117,526
--------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
37,368
Social security and other taxes
68,778
Other creditors
2,161,480
1,698,163
------------
------------
2,161,480
1,804,309
------------
------------
8. Related party transactions
No transactions with related parties were undertaken as are required to be disclosed under FRS 102 Section 1A.