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REGISTERED NUMBER: 07366438 (England and Wales)















H&C TV LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






H&C TV LIMITED (REGISTERED NUMBER: 07366438)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


H&C TV LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: H Killen
J J Kupsky
R G Burdett
J Penney
D Qualls
C Ruibal





SECRETARY: M U Rothman





REGISTERED OFFICE: Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU





REGISTERED NUMBER: 07366438 (England and Wales)





ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU

H&C TV LIMITED (REGISTERED NUMBER: 07366438)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 432,338 610,640
Tangible assets 5 10,786 20,347
Investments 6 3,086,570 3,086,570
3,529,694 3,717,557

CURRENT ASSETS
Debtors 7 1,174,808 1,000,492
Cash at bank 30,138 56,373
1,204,946 1,056,865
CREDITORS
Amounts falling due within one year 8 3,724,795 1,478,681
NET CURRENT LIABILITIES (2,519,849 ) (421,816 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,009,845

3,295,741

CREDITORS
Amounts falling due after more than one
year

9

119,962

1,019,120
NET ASSETS 889,883 2,276,621

CAPITAL AND RESERVES
Called up share capital 10 14,450,789 14,450,789
Share premium 335,701 335,701
Retained earnings (13,896,607 ) (12,509,869 )
SHAREHOLDERS' FUNDS 889,883 2,276,621

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

H&C TV LIMITED (REGISTERED NUMBER: 07366438)

BALANCE SHEET - continued
31ST DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th November 2024 and were signed on its behalf by:





H Killen - Director


H&C TV LIMITED (REGISTERED NUMBER: 07366438)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

H&C TV Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Programme and production library
Programme and production library are valued at cost less accumulated amortisation. Bought in programme costs and commissioned programme costs are amortised over the period of the licence. Own production costs are written off in the year incurred, except when the programmes might run over several years in which case own production costs are written off over the useful economic life.

Website development costs
Website development costs are initially recognised at cost and amortised on a straight line basis over an expected useful economic life of 3 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33.33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, except to the extent that it 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.


H&C TV LIMITED (REGISTERED NUMBER: 07366438)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Programme
and Website
production development
Goodwill library costs Totals
£    £    £    £   
COST
At 1st January 2023 167,869 4,234,113 208,178 4,610,160
Additions - 402,867 17,642 420,509
At 31st December 2023 167,869 4,636,980 225,820 5,030,669
AMORTISATION
At 1st January 2023 167,869 3,659,548 172,103 3,999,520
Amortisation for year - 576,907 21,904 598,811
At 31st December 2023 167,869 4,236,455 194,007 4,598,331
NET BOOK VALUE
At 31st December 2023 - 400,525 31,813 432,338
At 31st December 2022 - 574,565 36,075 610,640

H&C TV LIMITED (REGISTERED NUMBER: 07366438)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1st January 2023 111,419
Additions 2,594
At 31st December 2023 114,013
DEPRECIATION
At 1st January 2023 91,072
Charge for year 12,155
At 31st December 2023 103,227
NET BOOK VALUE
At 31st December 2023 10,786
At 31st December 2022 20,347

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st January 2023
and 31st December 2023 3,086,570
NET BOOK VALUE
At 31st December 2023 3,086,570
At 31st December 2022 3,086,570

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 69,021 74,481
Amounts owed by group undertakings 632,174 405,231
Other debtors 216,594 237,815
VAT - 7,579
Called up share capital not paid 203,029 203,029
Prepayments 53,990 72,357
1,174,808 1,000,492

H&C TV LIMITED (REGISTERED NUMBER: 07366438)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,850 10,648
Other loans 32,951 -
Trade creditors 676,991 659,220
Social security and other taxes 61,755 33,956
VAT 13,922 -
Other creditors 35,621 20,497
Directors' current accounts 2,886,095 670,742
Accruals and deferred income 7,610 83,618
3,724,795 1,478,681

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 16,029 25,080
Other loans - 1-2 years 103,933 994,040
119,962 1,019,120

H&C TV LIMITED (REGISTERED NUMBER: 07366438)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

10. CALLED UP SHARE CAPITAL

Alloted, issued and fully paid:
Nominal 2023 2022
Number: Class: Value: £ £

21,250 Ordinary A £4.00 85,000 85,000
135,297 Ordinary £0.01 1,353 1,353
87,248 Ordinary £0.01 872 872
10,093,711 Preference Series A £1.00 10,135,571 10,135,571
3,273,084 Preference Series B £1.00 3,273,084 3,273,084
751,880 Preference Series C £1.00 751,880 751,880
14,247,761 14,247,761

Alloted and issued:
Nominal 2023 2022
Number: Class: Value: £ £

8,000 Ordinary A £4.00 32,000 32,000
1,256,360 Ordinary £0.01 13,840 13,840
199,049 Preference Series A £1.00 157,189 157,189
203,029 203,029










11. RELATED PARTY DISCLOSURES

At the year end, the company owed director H Killen £2,886,095 (2022: £670,742).