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 xbrli:pure xbrli:shares iso4217:GBP 7177517 2023-01-01 2023-12-31 7177517 2023-12-31 7177517 2022-12-31 7177517 2022-01-01 2022-12-31 7177517 2022-12-31 7177517 2021-12-31 7177517 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 7177517 bus:Director1 2023-01-01 2023-12-31 7177517 core:WithinOneYear 2023-12-31 7177517 core:WithinOneYear 2022-12-31 7177517 core:ShareCapital 2023-12-31 7177517 core:ShareCapital 2022-12-31 7177517 core:RetainedEarningsAccumulatedLosses 2023-12-31 7177517 core:RetainedEarningsAccumulatedLosses 2022-12-31 7177517 bus:SmallEntities 2023-01-01 2023-12-31 7177517 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 7177517 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 7177517 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 7177517 bus:FullAccounts 2023-01-01 2023-12-31 7177517 bus:OrdinaryShareClass1 2023-12-31 7177517 bus:OrdinaryShareClass1 2022-12-31
COMPANY REGISTRATION NUMBER: 7177517
Radio Ceredigion Limited
Filleted Unaudited Financial Statements
31 December 2023
Radio Ceredigion Limited
Financial Statements
Year ended 31 December 2023
Contents
Pages
Statement of financial position
1
Notes to the financial statements
2 to 3
Radio Ceredigion Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Current assets
Debtors
4
1,293,581
1,128,478
Cash at bank and in hand
13,264
4,070
------------
------------
1,306,845
1,132,548
Creditors: amounts falling due within one year
5
( 1,992,137)
( 1,691,380)
------------
------------
Net current liabilities
( 685,292)
( 558,832)
---------
---------
Total assets less current liabilities
( 685,292)
( 558,832)
---------
---------
Net liabilities
( 685,292)
( 558,832)
---------
---------
Capital and reserves
Called up share capital
6
100
100
Profit and loss account
( 685,392)
( 558,932)
---------
---------
Shareholders deficit
( 685,292)
( 558,832)
---------
---------
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.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
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:
J.S. Bryant
Director
Company registration number: 7177517
Radio Ceredigion Limited
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 director has prepared cash flow forecasts for the forthcoming 12 months. The company has net current liabilities of £685,292 (2022 - £558,832). 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 director considers 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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods and services is recognised when the significant risks and rewards of ownership of the goods 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.
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. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,278,498
1,117,508
Other debtors
15,083
10,970
------------
------------
1,293,581
1,128,478
------------
------------
Other debtors include an amount of £nil (2022 - £nil) falling due after more than one year.
5. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
11,126
10,893
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,967,914
1,667,020
Other creditors
13,097
13,467
------------
------------
1,992,137
1,691,380
------------
------------
6. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
7. Contingencies
Contingent liabilities as at the balance sheet date were as follows: The company is a member of a group for VAT purposes, resulting in a joint and several liability for amounts owing by other group companies for unpaid VAT.
8. 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 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.
9. Controlling party
The company is a 100% 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.