Registered number
SC109131
Tern Television Productions Limited
Filleted Accounts
31 December 2023
Tern Television Productions Limited
Registered number: SC109131
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 161,642 190,318
Investments 4 91 91
161,733 190,409
Current assets
Debtors 5 6,434,833 5,472,401
Cash at bank and in hand 775,909 839,773
7,210,742 6,312,174
Creditors: amounts falling due within one year 6 (1,859,507) (1,796,935)
Net current assets 5,351,235 4,515,239
Total assets less current liabilities 5,512,968 4,705,648
Provisions for liabilities (18,481) (17,945)
Net assets 5,494,487 4,687,703
Capital and reserves
Called up share capital 25,700 25,700
Share premium 149,100 149,100
Revaluation reserve 7 101,500 101,500
Profit and loss account 5,218,187 4,411,403
Shareholders' funds 5,494,487 4,687,703
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Will Sawyer
Director
Approved by the board on 20 September 2024
Tern Television Productions Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office and Studio Equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Inventories
Inventories comprise the cost of productions that are incomplete at the year-end less any amounts recognised as cost of sales.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 69 62
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 809,075
Additions 94,546
Disposals (27,755)
At 31 December 2023 875,866
Depreciation
At 1 January 2023 618,757
Charge for the year 117,116
On disposals (21,649)
At 31 December 2023 714,224
Net book value
At 31 December 2023 161,642
At 31 December 2022 190,318
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2023 91
At 31 December 2023 91
5 Debtors 2023 2022
£ £
Trade debtors 520,423 542,146
Amounts owed by group undertakings and undertakings in which the company has a participating interest 5,205,604 4,434,886
Accrued Income 634,125 441,402
Prepayments 74,681 53,967
6,434,833 5,472,401
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 36,393 113,736
Amounts owed to group undertakings and undertakings in which the company has a participating interest 143,332 237,686
Taxation and social security costs 230,252 188,878
Accruals 1,078,300 768,877
Deferred Income 357,073 473,301
Other creditors 14,157 14,457
1,859,507 1,796,935
7 Capital redemption reserve 2023 2022
£ £
At 1 January 2023 101,500 101,500
At 31 December 2023 101,500 101,500
8 Pension commitments
The company operates a defined contribution pension schemes for qualifying employees. The assets of the schemes are held separately from those of the company in independently administered funds.
9 Related party transactions
The Company has taken advantage of the exemption in FRS 102.33.1A not to disclose related party transactions with Zinc Media Group Plc and fellow wholly-owned subsidiary understakings of Zinc Media Group Plc, which prepares publicly available consolidated financial statements (see note 10)
10 Controlling party
The Company is a subsidiary of Zinc Media Group plc, a company incorporated in Scotland, which is the ultimate parent undertaking.

Copies of its group accounts, which include the company, are available from www.zincmedia.com.

Zinc Media Group plc is the parent undertaking of the smallest and largest group to consolidate these financial accounts.
11 Other information
Tern Television Productions Limited is a private company limited by shares and incorporated in England. Its registered office is:
4th Floor, 65 West Regent Street,
Glasgow
G2 2AF
Tern Television Productions Limited SC109131 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts July 2024 Will Sawyer No description of principal activity SC109131 2022-01-01 2022-12-31 SC109131 core:WithinOneYear 2022-12-31 SC109131 core:ShareCapital 2022-12-31 SC109131 core:SharePremium 2022-12-31 SC109131 core:OtherReservesSubtotal 2022-12-31 SC109131 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC109131 core:RevaluationReserve 2021-12-31 SC109131 2023-01-01 2023-12-31 SC109131 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC109131 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC109131 bus:Director40 2023-01-01 2023-12-31 SC109131 1 2023-01-01 2023-12-31 SC109131 2 2023-01-01 2023-12-31 SC109131 core:PlantMachinery 2023-01-01 2023-12-31 SC109131 countries:England 2023-01-01 2023-12-31 SC109131 bus:FRS102 2023-01-01 2023-12-31 SC109131 bus:FilletedAccounts 2023-01-01 2023-12-31 SC109131 2023-12-31 SC109131 core:WithinOneYear 2023-12-31 SC109131 core:ShareCapital 2023-12-31 SC109131 core:SharePremium 2023-12-31 SC109131 core:OtherReservesSubtotal 2023-12-31 SC109131 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC109131 core:PlantMachinery 2023-12-31 SC109131 core:RevaluationReserve 2023-12-31 SC109131 2022-12-31 SC109131 core:PlantMachinery 2022-12-31 SC109131 core:RevaluationReserve 2022-12-31 iso4217:GBP xbrli:pure