AFRICAN MOVIE CHANNEL LIMITED

Company Registration Number:
05377912 (England and Wales)

Unaudited abridged accounts for the year ended 28 February 2024

Period of accounts

Start date: 01 March 2023

End date: 28 February 2024

AFRICAN MOVIE CHANNEL LIMITED

Contents of the Financial Statements

for the Period Ended 28 February 2024

Balance sheet
Notes

AFRICAN MOVIE CHANNEL LIMITED

Balance sheet

As at 28 February 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 12,436 16,582
Total fixed assets: 12,436 16,582
Current assets
Stocks: 225,349 114,450
Debtors: 4 159,029 267,197
Cash at bank and in hand: 105,991 78,656
Total current assets: 490,369 460,303
Creditors: amounts falling due within one year: 5 (11,823) (47,095)
Net current assets (liabilities): 478,546 413,208
Total assets less current liabilities: 490,982 429,790
Provision for liabilities: (2,985) (3,151)
Total net assets (liabilities): 487,997 426,639
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 486,997 425,639
Shareholders funds: 487,997 426,639

The notes form part of these financial statements

AFRICAN MOVIE CHANNEL LIMITED

Balance sheet statements

For the year ending 28 February 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 06 December 2024
and signed on behalf of the board by:

Name: Raufu Onigbogi
Status: Director

The notes form part of these financial statements

AFRICAN MOVIE CHANNEL LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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 and depreciation policy

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: Studio 25% p.a on a straight line Fixtures, fittings, and equipment 25% p.a on written down value

Other accounting policies

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 (i.e 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. Pensions Contributions to defined contribution plans are expensed in the period to which they relate

AFRICAN MOVIE CHANNEL LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2024

2. Employees

2024 2023
Average number of employees during the period 8 9

AFRICAN MOVIE CHANNEL LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2024

3. Tangible Assets

Total
Cost £
At 01 March 2023 59,625
At 28 February 2024 59,625
Depreciation
At 01 March 2023 43,043
Charge for year 4,146
At 28 February 2024 47,189
Net book value
At 28 February 2024 12,436
At 28 February 2023 16,582

AFRICAN MOVIE CHANNEL LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2024

4. Debtors

2024 2023
££
Debtors due after more than one year: 159,029 267,197

AFRICAN MOVIE CHANNEL LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2024

5. Creditors: amounts falling due within one year note

Taxation and social security costs 7,833 Other creditors 3,990