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Registered number: 07427512
Channel Green Tv Limited
Financial Statements
For The Year Ended 30 November 2023
Jenkins Accountants Ltd
17 Oaktree Road
South Molton
Devon
EX36 4FJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07427512
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,287 6,459
8,287 6,459
CURRENT ASSETS
Debtors 5 3,229 8,154
Cash at bank and in hand 2,687 6,333
5,916 14,487
Creditors: Amounts Falling Due Within One Year 6 (1,250 ) (125 )
NET CURRENT ASSETS (LIABILITIES) 4,666 14,362
TOTAL ASSETS LESS CURRENT LIABILITIES 12,953 20,821
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,575 ) -
NET ASSETS 11,378 20,821
CAPITAL AND RESERVES
Called up share capital 7 3 3
Profit and Loss Account 11,375 20,818
SHAREHOLDERS' FUNDS 11,378 20,821
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr C P Bailey
Director
28/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Channel Green Tv Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07427512 . The registered office is 15 Hunts Mill, Crispin Place, Oxfordshire, Wallingford, OX10 0DR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance basis
Fixtures, Fittings & Equipment 20% reducing balance basis
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
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4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 December 2022 18,838
Additions 3,900
As at 30 November 2023 22,738
Depreciation
As at 1 December 2022 12,379
Provided during the period 2,072
As at 30 November 2023 14,451
Net Book Value
As at 30 November 2023 8,287
As at 1 December 2022 6,459
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 3,229 8,154
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 1,250 125
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 3 3
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8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2022 Amounts advanced Amounts repaid Amounts written off As at 30 November 2023
£ £ £ £ £
Mr Clifford Bailey 8,152 3,424 5,349 - 6,227
The above loan is unsecured, interest free, and repayable on demand.
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