2023-01-012023-12-312023-12-31false12870481THE NEST TV GROUP 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THE NEST TV GROUP LIMITED

Registered Number
12870481
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

THE NEST TV GROUP LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

BATT, Stewart George
DRENNAN, Derek

Registered Address

Unit 76, The Link
49 Effra Road
London
SW2 1BZ

Place of Business

Nest Productions

Unit 414

Exmouth House, 3/11 Pine Street,

London

EC1R 0JH


Registered Number

12870481 (England and Wales)
THE NEST TV GROUP LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets312,9995,501
12,9995,501
Current assets
Stocks4496,284-
Debtors409,371160,264
Cash at bank and on hand339,127123,775
1,244,782284,039
Creditors amounts falling due within one year(1,087,605)(266,582)
Net current assets (liabilities)157,17717,457
Total assets less current liabilities170,17622,958
Provisions for liabilities5(3,057)(433)
Net assets167,11922,525
Capital and reserves
Called up share capital100100
Profit and loss account167,01922,425
Shareholders' funds167,11922,525
The financial statements were approved and authorised for issue by the Board of Directors on 8 August 2024, and are signed on its behalf by:
BATT, Stewart George
Director
DRENNAN, Derek
Director

Registered Company No. 12870481
THE NEST TV GROUP LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The Nest TV Group Limited is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes and other sales taxes
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
The company operates a defined contribution pension scheme. Contribution payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the income statement except to the extent that is relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 25% on reducing balance.

Reducing balance (%)
Plant and machinery25
Fixtures and fittings15
Office Equipment25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year3517
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 January 23-7,2407,240
Additions4,5705,67310,243
At 31 December 234,57012,91317,483
Depreciation and impairment
At 01 January 23-1,7391,739
Charge for year5752,1702,745
At 31 December 235753,9094,484
Net book value
At 31 December 233,9959,00412,999
At 31 December 22-5,5015,501
4.Stocks

2023

2022

££
Work in progress496,284-
Total496,284-
5.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)3,057433
Total3,057433
6.Change in reporting period and impact on comparability
Comparative values for prior year 2022 are for a the period of 15 months (October 2021 to December 2022)