0
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2023-01-01
Sage Accounts Production Advanced 2023 - FRS102_2023
41,475
1,000
42,475
4,491
6,178
10,669
31,806
36,984
7,027
984
6,043
xbrli:pure
xbrli:shares
iso4217:GBP
12945666
2023-01-01
2023-12-31
12945666
2023-12-31
12945666
2022-12-31
12945666
2022-01-01
2022-12-31
12945666
2022-12-31
12945666
2021-12-31
12945666
core:PlantMachinery
2023-01-01
2023-12-31
12945666
bus:OrdinaryShareClass1
2023-01-01
2023-12-31
12945666
bus:Director1
2023-01-01
2023-12-31
12945666
core:PlantMachinery
2022-12-31
12945666
core:PlantMachinery
2023-12-31
12945666
core:WithinOneYear
2023-12-31
12945666
core:WithinOneYear
2022-12-31
12945666
core:ShareCapital
2023-12-31
12945666
core:ShareCapital
2022-12-31
12945666
core:RetainedEarningsAccumulatedLosses
2023-12-31
12945666
core:RetainedEarningsAccumulatedLosses
2022-12-31
12945666
core:AcceleratedTaxDepreciationDeferredTax
2023-12-31
12945666
core:AcceleratedTaxDepreciationDeferredTax
2022-12-31
12945666
core:PlantMachinery
2022-12-31
12945666
core:DeferredTaxation
2022-12-31
12945666
core:DeferredTaxation
2023-12-31
12945666
core:DeferredTaxation
2023-01-01
2023-12-31
12945666
bus:SmallEntities
2023-01-01
2023-12-31
12945666
bus:AuditExemptWithAccountantsReport
2023-01-01
2023-12-31
12945666
bus:SmallCompaniesRegimeForAccounts
2023-01-01
2023-12-31
12945666
bus:PrivateLimitedCompanyLtd
2023-01-01
2023-12-31
12945666
bus:FullAccounts
2023-01-01
2023-12-31
12945666
bus:OrdinaryShareClass1
2023-12-31
12945666
bus:OrdinaryShareClass1
2022-12-31
COMPANY REGISTRATION NUMBER:
12945666
Filleted Unaudited Financial Statements |
|
Year ended 31 December 2023
Statement of financial position |
1 to 2 |
|
|
Notes to the financial statements |
3 to 6 |
|
|
Statement of Financial Position |
|
31 December 2023
Fixed assets
Tangible assets |
5 |
31,806 |
36,984 |
|
|
|
|
Current assets
Debtors |
6 |
9,169 |
8,280 |
Cash at bank and in hand |
24,786 |
4,616 |
|
-------- |
-------- |
|
33,955 |
12,896 |
|
|
|
|
Creditors: amounts falling due within one year |
7 |
(
49,139) |
(
54,355) |
|
-------- |
-------- |
Net current liabilities |
(
15,184) |
(
41,459) |
|
-------- |
-------- |
Total assets less current liabilities |
16,622 |
(
4,475) |
|
|
|
|
Provisions |
8 |
(
6,043) |
(
7,027) |
|
-------- |
-------- |
Net assets/(liabilities) |
10,579 |
(
11,502) |
|
-------- |
-------- |
|
|
|
|
Capital and reserves
Called up share capital |
10 |
100 |
100 |
Profit and loss account |
10,479 |
(
11,602) |
|
-------- |
-------- |
Shareholders funds/(deficit) |
10,579 |
(
11,502) |
|
-------- |
-------- |
|
|
|
|
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 31 December 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
.
Statement of Financial Position (continued) |
|
31 December 2023
These financial statements were approved by the
board of directors
and authorised for issue on
11 July 2024
, and are signed on behalf of the board by:
Company registration number:
12945666
Notes to the Financial Statements |
|
Year ended 31 December 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 St Hilary Transmitter, St Hilary, Cowbridge, Vale of Glamorgan, CF71 7DP, Wales.
2.
Statement of compliance
These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company is dependent upon its parent company and fellow subsidiaries for financial support. The directors have prepared cash flow forecasts for the forthcoming 12 months. The company has net current liabilities of £15,184 (2022 - £41,459). The board has received appropriate assurance from Nation Broadcasting Limited that it will continue to provide financial and other support to the company for the foreseeable future to enable it to meet its liabilities as they fall due. On this basis, the directors consider it appropriate to prepare financial statements on a going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:
|
Technical Equipment |
- |
15% 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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Tax on profit/(loss)
Major components of tax (income)/expense
Deferred tax:
Origination and reversal of timing differences |
(
984) |
4,419 |
|
---- |
------- |
Tax on profit/(loss) |
(
984) |
4,419 |
|
---- |
------- |
|
|
|
5.
Tangible assets
|
Technical Equipment |
|
£ |
Cost |
|
At 1 January 2023 |
41,475 |
Additions |
1,000 |
|
-------- |
At 31 December 2023 |
42,475 |
|
-------- |
Depreciation |
|
At 1 January 2023 |
4,491 |
Charge for the year |
6,178 |
|
-------- |
At 31 December 2023 |
10,669 |
|
-------- |
Carrying amount |
|
At 31 December 2023 |
31,806 |
|
-------- |
At 31 December 2022 |
36,984 |
|
-------- |
|
|
6.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
– |
900 |
Other debtors |
9,169 |
7,380 |
|
------- |
------- |
|
9,169 |
8,280 |
|
------- |
------- |
|
|
|
Other debtors include and amount of £nil (2022 - £nil) falling due after more than one year.
7.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Amounts owed to group undertakings and undertakings in which the company has a participating interest. |
30,001 |
37,709 |
Social security and other taxes |
– |
367 |
Other creditors |
19,138 |
16,279 |
|
-------- |
-------- |
|
49,139 |
54,355 |
|
-------- |
-------- |
|
|
|
8.
Provisions
|
Deferred tax (note 9) |
|
£ |
At 1 January 2023 |
7,027 |
Unused amounts reversed |
(
984) |
|
------- |
At 31 December 2023 |
6,043 |
|
------- |
|
|
9.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
|
2023 |
2022 |
|
£ |
£ |
Included in provisions (note 8) |
6,043 |
7,027 |
|
------- |
------- |
|
|
|
The deferred tax account consists of the tax effect of timing differences in respect of:
|
2023 |
2022 |
|
£ |
£ |
Accelerated capital allowances |
6,043 |
7,027 |
|
------- |
------- |
|
|
|
10.
Called up share capital
Issued, called up and fully paid
|
2023 |
2022 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
100 |
100 |
100 |
100 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
11.
Related party transactions
During the year the company was under the control of Nation Broadcasting Limited a company of which
J.S. Bryant
is executive chairman and majority shareholder. During the year the company has traded at an arms length basis with other subsidiaries of Nation Broadcasting Limited. The company has claimed the exemption under FRS 102 Section 33 not to disclose the value of intergroup transactions with other wholly owned subsidiaries.
12.
Controlling party
The company is a 75% subsidiary of Nation Broadcasting Limited, a company registered in England and Wales. Group accounts are not prepared because the group is small and is not an ineligible group as defined in Section 384 of the Companies Act 2006.