COMPANY REGISTRATION NUMBER:
9458589
Digital Broadcast Technologies Limited |
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Filleted Unaudited Financial Statements |
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Digital Broadcast Technologies Limited |
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Year ended 31 December 2023
Statement of financial position |
1 |
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Notes to the financial statements |
2 to 4 |
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Digital Broadcast Technologies Limited |
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Statement of Financial Position |
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31 December 2023
Fixed assets
Current assets
Debtors |
5 |
– |
5,000 |
Cash at bank and in hand |
5,315 |
5,363 |
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------- |
-------- |
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5,315 |
10,363 |
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|
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Creditors: amounts falling due within one year |
6 |
(
922) |
(
922) |
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------- |
-------- |
Net current assets |
4,393 |
9,441 |
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------- |
------- |
Total assets less current liabilities |
4,493 |
9,541 |
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------- |
------- |
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Capital and reserves
Called up share capital |
7 |
100 |
100 |
Profit and loss account |
4,393 |
9,441 |
|
------- |
------- |
Shareholders funds |
4,493 |
9,541 |
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------- |
------- |
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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
;
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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:
Company registration number:
9458589
Digital Broadcast Technologies Limited |
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Notes to the Financial Statements |
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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 director has a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the director continues to adopt the going concern basis of accounting in preparing the annual financial statements.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 399(2A) of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
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.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
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.
Investments
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Shares in group undertakings |
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£ |
Cost |
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At 1 January 2023 and 31 December 2023 |
100 |
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---- |
Impairment |
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At 1 January 2023 and 31 December 2023 |
– |
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---- |
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Carrying amount |
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At 31 December 2023 |
100 |
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---- |
At 31 December 2022 |
100 |
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---- |
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5.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
– |
5,000 |
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---- |
------- |
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Other debtors include an amount of £nil (2022 - £nil) falling due after more than one year.
6.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Other creditors |
922 |
922 |
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---- |
---- |
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7.
Called up share capital
Issued, called up and fully paid
|
2023 |
2022 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
100 |
100 |
100 |
100 |
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---- |
---- |
---- |
---- |
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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 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. During the year the company paid dividends totalling £nil (2022 - £122,500) to Nation Broadcasting Limited and £nil (2022 - £26,250) each to the remaining shareholders, Mr T. Durkin and Mr D. Banham.
9.
Controlling party
The company is a 70% 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.