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Registration number: 07160976

TV Commercials UK Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

image-name
 

TV Commercials UK Ltd

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3 to 4

Notes to the Financial Statements

5 to 9

 

TV Commercials UK Ltd

Company Information

Directors

Mr Nicholas Ian Sturt Sneath

Mrs Victoria Louise Sneath

Registered office

Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

Accountants

Lucraft Hodgson & Dawes LLP
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

 

TV Commercials UK Ltd

Directors' Report for the Year Ended 29 February 2024

The directors present their report and the financial statements for the year ended 29 February 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Nicholas Ian Sturt Sneath

Mrs Victoria Louise Sneath

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 15 November 2024 and signed on its behalf by:

.........................................
Mr Nicholas Ian Sturt Sneath
Director

   
     
 

TV Commercials UK Ltd

(Registration number: 07160976)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

5

17,585

13,796

Current assets

 

Debtors

6

10,024

15,661

Cash at bank and in hand

 

27,621

18,118

 

37,645

33,779

Creditors: Amounts falling due within one year

7

(45,866)

(35,123)

Net current liabilities

 

(8,221)

(1,344)

Total assets less current liabilities

 

9,364

12,452

Creditors: Amounts falling due after more than one year

7

(5,126)

(8,578)

Provisions for liabilities

(3,341)

(2,621)

Net assets

 

897

1,253

Capital and Reserves

 

Called up share capital

1

1

Retained Earnings

896

1,252

Shareholders' funds

 

897

1,253

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 November 2024 and signed on its behalf by:
 

 

TV Commercials UK Ltd

(Registration number: 07160976)
Balance Sheet as at 29 February 2024

.........................................
Mr Nicholas Ian Sturt Sneath
Director

   
     
 

TV Commercials UK Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF
England

The principal place of business is:
116 Holmes Avenue
Hove
BN3 7LE

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling, which is the functional currency of the company.

Going concern

These accounts have been prepared on a going concern basis notwithstanding the company's net liability position at the balance sheet date. The director is confident that with his continued support, the company can remain in operational existence for the foreseeable future.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

TV Commercials UK Ltd

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

TV Commercials UK Ltd

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2024
 No.

2023
 No.

Administration and support

2

2

2

2

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

5,861

4,599

5

Tangible Assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

41,240

41,240

Additions

9,650

9,650

At 29 February 2024

50,890

50,890

Depreciation

At 1 March 2023

27,444

27,444

Charge for the year

5,861

5,861

At 29 February 2024

33,305

33,305

Carrying amount

At 29 February 2024

17,585

17,585

At 28 February 2023

13,796

13,796

 

TV Commercials UK Ltd

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

6

Debtors

2024
£

2023
£

Trade Debtors

10,024

15,661

10,024

15,661

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

31,316

22,856

Trade Creditors

 

510

542

Taxation and social security

 

12,860

10,605

Accruals and deferred income

 

1,180

1,120

 

45,866

35,123

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

5,126

8,578

 

TV Commercials UK Ltd

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

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

5,126

-

Other borrowings

-

8,578

5,126

8,578

Current loans and borrowings

2024
£

2023
£

Bank borrowings

3,873

4,021

Other borrowings

27,443

18,835

31,316

22,856