Silverfin false false 30/04/2024 01/05/2023 30/04/2024 D Ball 15/03/2023 R Kantor 15/03/2023 C Leyton 17/07/2001 S P Capon-Leyton 17/07/2001 J Rainbow 15/03/2023 21 August 2024 The principal activity of the Company was that of design, build and delivery of Digital Commerce solutions. 04253971 2024-04-30 04253971 bus:Director1 2024-04-30 04253971 bus:Director2 2024-04-30 04253971 bus:Director3 2024-04-30 04253971 bus:Director4 2024-04-30 04253971 bus:Director5 2024-04-30 04253971 2023-04-30 04253971 core:CurrentFinancialInstruments 2024-04-30 04253971 core:CurrentFinancialInstruments 2023-04-30 04253971 core:ShareCapital 2024-04-30 04253971 core:ShareCapital 2023-04-30 04253971 core:CapitalRedemptionReserve 2024-04-30 04253971 core:CapitalRedemptionReserve 2023-04-30 04253971 core:RetainedEarningsAccumulatedLosses 2024-04-30 04253971 core:RetainedEarningsAccumulatedLosses 2023-04-30 04253971 core:LandBuildings 2023-04-30 04253971 core:PlantMachinery 2023-04-30 04253971 core:FurnitureFittings 2023-04-30 04253971 core:LandBuildings 2024-04-30 04253971 core:PlantMachinery 2024-04-30 04253971 core:FurnitureFittings 2024-04-30 04253971 2023-05-01 2024-04-30 04253971 bus:FilletedAccounts 2023-05-01 2024-04-30 04253971 bus:SmallEntities 2023-05-01 2024-04-30 04253971 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 04253971 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04253971 bus:Director1 2023-05-01 2024-04-30 04253971 bus:Director2 2023-05-01 2024-04-30 04253971 bus:Director3 2023-05-01 2024-04-30 04253971 bus:Director4 2023-05-01 2024-04-30 04253971 bus:Director5 2023-05-01 2024-04-30 04253971 core:LandBuildings core:TopRangeValue 2023-05-01 2024-04-30 04253971 core:PlantMachinery core:TopRangeValue 2023-05-01 2024-04-30 04253971 core:FurnitureFittings core:TopRangeValue 2023-05-01 2024-04-30 04253971 2022-05-01 2023-04-30 04253971 core:LandBuildings 2023-05-01 2024-04-30 04253971 core:PlantMachinery 2023-05-01 2024-04-30 04253971 core:FurnitureFittings 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Company No: 04253971 (England and Wales)

TVG MEDIA LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

TVG MEDIA LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

TVG MEDIA LIMITED

BALANCE SHEET

As at 30 April 2024
TVG MEDIA LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Restated - note 2
Fixed assets
Tangible assets 4 578,950 582,183
Investment property 5 240,000 190,621
818,950 772,804
Current assets
Debtors 6 3,333,008 1,824,549
Cash at bank and in hand 2,424,891 809,890
5,757,899 2,634,439
Creditors: amounts falling due within one year 7 ( 1,799,951) ( 1,442,403)
Net current assets 3,957,948 1,192,036
Total assets less current liabilities 4,776,898 1,964,840
Provision for liabilities ( 23,467) ( 17,962)
Net assets 4,753,431 1,946,878
Capital and reserves
Called-up share capital 100 100
Capital redemption reserve 6 6
Profit and loss account 4,753,325 1,946,772
Total shareholder's funds 4,753,431 1,946,878

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of TVG Media Limited (registered number: 04253971) were approved and authorised for issue by the Board of Directors on 21 August 2024. They were signed on its behalf by:

C Leyton
Director
TVG MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
TVG MEDIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

TVG Media Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Pixel Unit 5.19 Paintworks, Bath Road, Bristol, BS4 3EH, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 100 years straight line
Plant and machinery 4 years straight line
Fixtures and fittings 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Prior year adjustment

The financial statements for the year ended 30 April 2023 have been restated to include depreciation costs on the leasehold properties since the date of acquisition. This adjustment has increased administrative expenses by £41,309. Therefore this has decreased profit before tax by the same amount.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 76 47

4. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Total
£ £ £ £
Cost
At 01 May 2023 551,256 85,722 208,678 845,656
Additions 6,048 0 16,310 22,358
At 30 April 2024 557,304 85,722 224,988 868,014
Accumulated depreciation
At 01 May 2023 41,310 79,742 142,421 263,473
Charge for the financial year 5,556 1,495 18,540 25,591
At 30 April 2024 46,866 81,237 160,961 289,064
Net book value
At 30 April 2024 510,438 4,485 64,027 578,950
At 30 April 2023 509,946 5,980 66,257 582,183

5. Investment property

Investment property
£
Valuation
As at 01 May 2023 190,621
Fair value movement 49,379
As at 30 April 2024 240,000

Valuation

Freehold investment property of £240,000 (2023 - £190,621) is included within investment properties. The fair value of freehold investment properties is based on the directors' best estimate, having considered properties of a similar nature, condition and location.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 190,621 190,621

6. Debtors

2024 2023
£ £
Trade debtors 1,770,296 1,767,790
Amounts owed by Group undertakings 1,441,472 0
Prepayments 112,252 39,119
Other debtors 8,988 17,640
3,333,008 1,824,549

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 148,257 123,125
Amounts owed to Group undertakings 0 57,300
Accruals and deferred income 384,487 245,779
Corporation tax 620,660 467,389
Other taxation and social security 606,257 525,519
Other creditors 40,290 23,291
1,799,951 1,442,403

8. Ultimate controlling party

Parent Company:

TVG Media Holdings Limited
The Pixel Unit 5.19 Paintworks, Bath Road, Bristol, United Kingdom, BS4 3EH