Company registration number 03443808 (England and Wales)
PHIL MCINTYRE TV LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
PHIL MCINTYRE TV LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
PHIL MCINTYRE TV LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
778,546
971,058
Cash at bank and in hand
2,477,833
1,647,237
3,256,379
2,618,295
Creditors: amounts falling due within one year
5
(3,140,565)
(2,505,312)
Net current assets
115,814
112,983
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
115,813
112,982
Total equity
115,814
112,983

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 26 March 2025 and are signed on its behalf by:
Mr P C McIntyre
Director
Company registration number 03443808 (England and Wales)
PHIL MCINTYRE TV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Phil McIntyre TV Limited is a private company limited by shares incorporated in England and Wales. The registered office is 15 Riversway Business Village, Navigation Way, Ashton-on-Ribble, Preston, PR2 2YP. The company's place of business is 85 Newman Street, London, W1T 3EU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis.  The Directors have every expectation that the company and wider group will continue in operational existence for the foreseeable future. true

 

The group is self-funded and its business is both profitable and cash generative. The company currently has sufficient working capital, either directly or through group support, and is able to meet its liabilities as they fall due for payment over the upcoming twelve months. As a consequence, the directors believe that the company is a going concern at this time.

1.3
Turnover

Turnover represents amounts receivable for services net of VAT, from the production of TV programmes, sale of DVDs and invoiced royalties from the company's contractual arrangements.

 

In respect of the production of TV programmes, turnover is recognised based on the stage of completeness of the production. DVD turnover is recognised based on the date of the sale. Royalty income is recognised based on the date the production is shown.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

PHIL MCINTYRE TV LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. Trade creditors are recognised initially at transaction price.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

PHIL MCINTYRE TV LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 and 30 June 2024
1,570
Depreciation and impairment
At 1 July 2023 and 30 June 2024
1,570
Carrying amount
At 30 June 2024
-
0
At 30 June 2023
-
0
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
385,283
454,256
Other debtors
393,263
516,802
778,546
971,058
PHIL MCINTYRE TV LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
55,158
93,332
Amounts owed to group undertakings
2,712,173
2,284,468
Taxation and social security
31,785
17,080
Other creditors
341,449
110,432
3,140,565
2,505,312
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Michael Barker
Statutory Auditor:
Wallwork Nelson & Johnson
7
Financial commitments, guarantees and contingent liabilities

An unlimited cross-company guarantee is in place in favour of Natwest Bank Plc between the company, McIntyre Entertainments Group Limited, Phil McIntyre Management Limited, Phil McInytre Management Services Limited, Phil McInytre Entertainments Limited, PME Live Limited, PMP (Theatre Productions) Limited and Operatives Services & Solutions Limited.

 

At the balance sheet date, group borrowings payable to Natwest Bank Plc totalled £607,169.

8
Related party transactions

The company has taken advantage of the exemption conferred by Section 33 FRS 102, namely from disclosing any transactions entered into between two or members of the group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

9
Parent company

The ultimate parent company is Phil McIntyre Holdings Limited, a company incorporated in England and Wales. The registered office of Phil McIntyre Holdings Limited is Richard House, 9 Winckley Square, Preston, PR1 3HP.

The largest and smallest group in which the results of the company are consolidated is that headed by Phil McIntyre Holdings Limited. Copies of the accounts can be obtained from Companies House, Crown Way, Cardiff CF14 3UZ.

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