One Tribe TV Limited 07582752 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Television programme production activities Digita Accounts Production Advanced 6.30.9574.0 true true 07582752 2023-04-01 2024-03-31 07582752 2024-03-31 07582752 2 2024-03-31 07582752 core:RetainedEarningsAccumulatedLosses 2024-03-31 07582752 core:ShareCapital 2024-03-31 07582752 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 07582752 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 07582752 core:CurrentFinancialInstruments 2024-03-31 07582752 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 07582752 core:Non-currentFinancialInstruments 2024-03-31 07582752 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 07582752 core:FurnitureFittings 2024-03-31 07582752 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 07582752 core:MotorVehicles 2024-03-31 07582752 core:OfficeEquipment 2024-03-31 07582752 core:PlantMachinery 2024-03-31 07582752 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-03-31 07582752 bus:SmallEntities 2023-04-01 2024-03-31 07582752 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07582752 bus:FilletedAccounts 2023-04-01 2024-03-31 07582752 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07582752 bus:RegisteredOffice 2023-04-01 2024-03-31 07582752 bus:Director2 2023-04-01 2024-03-31 07582752 bus:Director3 2023-04-01 2024-03-31 07582752 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07582752 core:FurnitureFittings 2023-04-01 2024-03-31 07582752 core:LandBuildings 2023-04-01 2024-03-31 07582752 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07582752 core:MotorVehicles 2023-04-01 2024-03-31 07582752 core:OfficeEquipment 2023-04-01 2024-03-31 07582752 core:PlantMachinery 2023-04-01 2024-03-31 07582752 core:Vehicles 2023-04-01 2024-03-31 07582752 core:KeyManagementPersonnel 2023-04-01 2024-03-31 07582752 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-04-01 2024-03-31 07582752 countries:EnglandWales 2023-04-01 2024-03-31 07582752 2023-03-31 07582752 core:FurnitureFittings 2023-03-31 07582752 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 07582752 core:MotorVehicles 2023-03-31 07582752 core:OfficeEquipment 2023-03-31 07582752 core:PlantMachinery 2023-03-31 07582752 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-03-31 07582752 2022-04-01 2023-03-31 07582752 2023-03-31 07582752 2 2023-03-31 07582752 core:RetainedEarningsAccumulatedLosses 2023-03-31 07582752 core:ShareCapital 2023-03-31 07582752 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 07582752 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 07582752 core:CurrentFinancialInstruments 2023-03-31 07582752 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 07582752 core:Non-currentFinancialInstruments 2023-03-31 07582752 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 07582752 core:FurnitureFittings 2023-03-31 07582752 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 07582752 core:MotorVehicles 2023-03-31 07582752 core:OfficeEquipment 2023-03-31 07582752 core:PlantMachinery 2023-03-31 07582752 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-03-31 07582752 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 07582752

One Tribe TV Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

One Tribe TV Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

One Tribe TV Limited

(Registration number: 07582752)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

162,624

207,230

Current assets

 

Debtors

5

555,589

164,334

Cash at bank and in hand

 

237,526

298,646

 

793,115

462,980

Creditors: Amounts falling due within one year

6

(475,890)

(326,506)

Net current assets

 

317,225

136,474

Total assets less current liabilities

 

479,849

343,704

Creditors: Amounts falling due after more than one year

6

(393,925)

(308,475)

Provisions for liabilities

(12,624)

(35,209)

Net assets

 

73,300

20

Capital and reserves

 

Called up share capital

1

1

Retained earnings

73,299

19

Shareholders' funds

 

73,300

20

For the financial year ending 31 March 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 20 March 2025 and signed on its behalf by:
 

Ms D Templar
Director

Mr O Gay
Director

 
     
 

One Tribe TV Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
Imagination House
Station Road
Chepstow
Monmouthshire
NP16 5PB

These financial statements were authorised for issue by the Board on 20 March 2025.

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 prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

These accounts have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

One Tribe TV Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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.

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

Freehold land and buildings

25% reducing balance

Furniture, fittings and equipment

20% reducing balance

Plant and machinery

25% reducing balance

Office equipment

25% reducing balance

Motor vehicles

20% 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.

 

One Tribe TV Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

One Tribe TV Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 20 (2023 - 34).

4

Tangible assets

Freehold land and buildings
£

Furniture, fittings and equipment
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

13,166

147,197

160,011

118,007

50,843

489,224

Additions

-

-

7,349

4,192

-

11,541

At 31 March 2024

13,166

147,197

167,360

122,199

50,843

500,765

Depreciation

At 1 April 2023

12,739

76,052

115,646

47,988

29,569

281,994

Charge for the year

107

14,229

15,631

18,054

8,126

56,147

At 31 March 2024

12,846

90,281

131,277

66,042

37,695

338,141

Carrying amount

At 31 March 2024

320

56,916

36,083

56,157

13,148

162,624

At 31 March 2023

427

71,145

44,365

70,019

21,274

207,230

Included within the net book value of land and buildings above is £320 (2023 - £427) in respect of freehold land and buildings.
 

 

One Tribe TV Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

148,901

6,474

Amounts owed by related parties

8

6,003

2,535

Other debtors

 

22,763

22,763

Prepayments

 

15,316

7,612

Accrued income

 

190,000

121,600

Income tax asset

172,606

3,350

 

555,589

164,334

6

Creditors

Due within one year

Note

2024
£

2023
£

 

Loans and borrowings

7

97,892

28,041

Trade creditors

 

98,119

91,698

Social security and other taxes

 

165,150

169,317

Other creditors

 

5,867

35,072

Accruals

 

4,000

2,378

Deferred income

 

104,862

-

 

475,890

326,506

Due after one year

 

Loans and borrowings

7

393,925

308,475

 

One Tribe TV Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

270,470

297,830

Hire purchase contracts

-

10,645

Other borrowings

123,455

-

393,925

308,475

Current loans and borrowings

2024
£

2023
£

Bank borrowings

26,636

24,263

Hire purchase contracts

11,026

3,778

Other borrowings

60,230

-

97,892

28,041

8

Related party transactions

Loans to related parties

2024

Key management
£

Total
£

At start of period

2,535

2,535

Advanced

5,000

5,000

Repaid

(1,532)

(1,532)

At end of period

6,003

6,003

2023

Key management
£

Total
£

Advanced

2,535

2,535

At end of period

2,535

2,535

Terms of loans to related parties

Loans owed by key management are interest free and repayable on demand.