Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12844251 2023-03-01 2024-02-29 12844251 2022-03-01 2023-02-28 12844251 2024-02-29 12844251 2023-02-28 12844251 c:Director1 2023-03-01 2024-02-29 12844251 d:OfficeEquipment 2023-03-01 2024-02-29 12844251 d:OfficeEquipment 2024-02-29 12844251 d:OfficeEquipment 2023-02-28 12844251 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 12844251 d:CurrentFinancialInstruments 2024-02-29 12844251 d:CurrentFinancialInstruments 2023-02-28 12844251 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 12844251 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 12844251 d:ShareCapital 2024-02-29 12844251 d:ShareCapital 2023-02-28 12844251 d:RetainedEarningsAccumulatedLosses 2024-02-29 12844251 d:RetainedEarningsAccumulatedLosses 2023-02-28 12844251 c:OrdinaryShareClass1 2023-03-01 2024-02-29 12844251 c:OrdinaryShareClass1 2024-02-29 12844251 c:OrdinaryShareClass1 2023-02-28 12844251 c:FRS102 2023-03-01 2024-02-29 12844251 c:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 12844251 c:FullAccounts 2023-03-01 2024-02-29 12844251 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12844251 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12844251










KMTV Creative Productions Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 29 February 2024

 
KMTV Creative Productions Ltd
 
  
Chartered Accountants' Report to the Director on the preparation of the Unaudited Statutory Financial Statements of KMTV Creative Productions Ltd for the Year Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of KMTV Creative Productions Ltd for the year ended 29 February 2024 which comprise the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of KMTV Creative Productions Ltd in accordance with the terms of our engagement letter dated 14 December 2021Our work has been undertaken solely to prepare for your approval the financial statements of KMTV Creative Productions Ltd and state those matters that we have agreed to state to the director of KMTV Creative Productions Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KMTV Creative Productions Ltd and its director for our work or for this report. 

It is your duty to ensure that KMTV Creative Productions Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of KMTV Creative Productions Ltd. You consider that KMTV Creative Productions Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of KMTV Creative Productions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
9 August 2024
Page 1

 
KMTV Creative Productions Ltd
Registered number: 12844251

Balance Sheet
As at 29 February 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
12,847
22,782

  
12,847
22,782

Current assets
  

Debtors: amounts falling due within one year
 5 
121,669
107,160

Cash at bank and in hand
  
31,259
58,511

  
152,928
165,671

Creditors: amounts falling due within one year
 6 
(155,296)
(201,046)

Net current liabilities
  
 
 
(2,368)
 
 
(35,375)

Total assets less current liabilities
  
10,479
(12,593)

  

Net assets/(liabilities)
  
10,479
(12,593)


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
10,478
(12,594)

  
10,479
(12,593)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Andrew Richards
Director
Date: 9 August 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
KMTV Creative Productions Ltd
 

 
Notes to the Financial Statements
For the Year Ended 29 February 2024

1.


General information

KMTV Creative Productions Limited (“the company”) is a private company limited by shares and is incorporated in England with the registration number 12844251.  The address of the registered office is Kmtv Creative Productions Ltd, Medway Building, Chatham Maritime, Chatham, Kent, United Kingdom, ME4 4AG.
The Company's principal activity was that of television programming and broadcasting activities.
The financial statements are presented in Pounds Sterling (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has net current liabilities for the year of £2,368 and is reliant on the continued support of its parent company KM Television Limited. This support is expected to be forthcoming and the director expects the company to continue for at least the next twelve months.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

Page 3

 
KMTV Creative Productions Ltd
 

 
Notes to the Financial Statements
For the Year Ended 29 February 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The
Page 4

 
KMTV Creative Productions Ltd
 

 
Notes to the Financial Statements
For the Year Ended 29 February 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)

impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


3.


Employees



The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
KMTV Creative Productions Ltd
 

 
Notes to the Financial Statements
For the Year Ended 29 February 2024

4.


Tangible fixed assets







Office equipment

£



Cost or valuation


At 1 March 2023
29,805



At 29 February 2024

29,805



Depreciation


At 1 March 2023
7,023


Charge for the year on owned assets
9,935



At 29 February 2024

16,958



Net book value



At 29 February 2024
12,847


5.


Debtors

29 February
28 February
2024
2023
£
£


Amounts owed by group undertakings
1
1

Other debtors
52,152
73,819

Prepayments and accrued income
69,516
33,340

121,669
107,160



6.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
150,069
196,294

Accruals and deferred income
5,227
4,752

155,296
201,046


Page 6

 
KMTV Creative Productions Ltd
 

 
Notes to the Financial Statements
For the Year Ended 29 February 2024

7.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



8.


Related party transactions

During the year the company purchased equipment and services from its parent in the amount of £220,044 (2023 - £254,291), and provided services to that company amounting to £69,516 (2023 - £NIL). At the year end the company owed £Nil (2023 - £46,257) to its parent which is included in creditors, and was owed £69,517 (2023 - £1) by its parent which is included in debtors.                                              During the year the company purchased services from The University of Kent, a shareholder in its parent company, in the amount of £Nil (2023 - £150,000). At the year end the company owed £150,000 (2023 - £150,000) to The University of Kent which is included in creditors.


Page 7