12 27 December 2024 false false false false false false false false false false true false false false false false false No description of principal activity 2023-08-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 06308862 2023-08-01 2024-07-31 06308862 2024-07-31 06308862 2023-07-31 06308862 2022-08-01 2023-07-31 06308862 2023-07-31 06308862 2022-07-31 06308862 core:PlantMachinery 2023-08-01 2024-07-31 06308862 core:FurnitureFittings 2023-08-01 2024-07-31 06308862 core:MotorVehicles 2023-08-01 2024-07-31 06308862 bus:Director1 2023-08-01 2024-07-31 06308862 core:LandBuildings 2023-07-31 06308862 core:PlantMachinery 2023-07-31 06308862 core:FurnitureFittings 2023-07-31 06308862 core:MotorVehicles 2023-07-31 06308862 core:LandBuildings 2024-07-31 06308862 core:PlantMachinery 2024-07-31 06308862 core:FurnitureFittings 2024-07-31 06308862 core:MotorVehicles 2024-07-31 06308862 core:LandBuildings 2023-08-01 2024-07-31 06308862 core:WithinOneYear 2024-07-31 06308862 core:WithinOneYear 2023-07-31 06308862 core:ShareCapital 2024-07-31 06308862 core:ShareCapital 2023-07-31 06308862 core:SharePremium 2024-07-31 06308862 core:SharePremium 2023-07-31 06308862 core:RetainedEarningsAccumulatedLosses 2024-07-31 06308862 core:RetainedEarningsAccumulatedLosses 2023-07-31 06308862 core:LandBuildings 2023-07-31 06308862 core:PlantMachinery 2023-07-31 06308862 core:FurnitureFittings 2023-07-31 06308862 core:MotorVehicles 2023-07-31 06308862 bus:SmallEntities 2023-08-01 2024-07-31 06308862 bus:Audited 2023-08-01 2024-07-31 06308862 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 06308862 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 06308862 bus:FullAccounts 2023-08-01 2024-07-31 06308862 core:LandBuildings core:LongLeaseholdAssets 2023-08-01 2024-07-31
COMPANY REGISTRATION NUMBER: 06308862
Channel I (UK) Limited
Filleted Financial Statements
31 July 2024
Channel I (UK) Limited
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
142,665
205,185
Current assets
Debtors
6
518,473
77,622
Cash at bank and in hand
370,187
631,742
---------
---------
888,660
709,364
Creditors: amounts falling due within one year
7
854,778
752,683
---------
---------
Net current assets/(liabilities)
33,882
( 43,319)
---------
---------
Total assets less current liabilities
176,547
161,866
---------
---------
Capital and reserves
Called up share capital
1
1
Share premium account
250,000
250,000
Profit and loss account
( 73,454)
( 88,135)
---------
---------
Shareholders funds
176,547
161,866
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 27 December 2024 , and are signed on behalf of the board by:
Imam Qasim Rashid Ahmad
Director
Company registration number: 06308862
Channel I (UK) Limited
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 109-117 Cherry Orchard Road, Croydon, Surrey, CR0 6BE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax, together with sponsorships and donations.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Property
-
over the period of the lease
Media equipment
-
20% straight line
Fixtures, fittings and equipment
-
20% straight line
Motor vehicles
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2023: 13 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 August 2023
236,944
789,753
360,232
95,674
1,482,603
Additions
11,440
21,976
33,416
---------
---------
---------
---------
------------
At 31 July 2024
236,944
801,193
360,232
117,650
1,516,019
---------
---------
---------
---------
------------
Depreciation
At 1 August 2023
185,455
742,883
293,376
55,704
1,277,418
Charge for the year
23,695
26,351
27,072
18,818
95,936
---------
---------
---------
---------
------------
At 31 July 2024
209,150
769,234
320,448
74,522
1,373,354
---------
---------
---------
---------
------------
Carrying amount
At 31 July 2024
27,794
31,959
39,784
43,128
142,665
---------
---------
---------
---------
------------
At 31 July 2023
51,489
46,870
66,856
39,970
205,185
---------
---------
---------
---------
------------
6. Debtors
2024
2023
£
£
Trade debtors
470,000
Other debtors
48,473
77,622
---------
--------
518,473
77,622
---------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
35,738
18,599
Amounts owed to group undertakings and undertakings in which the company has a participating interest
805,354
719,423
Social security and other taxes
7,344
9,661
Other creditors
6,342
5,000
---------
---------
854,778
752,683
---------
---------
8. Summary audit opinion
The auditor's report dated 27 December 2024 was unqualified .
The senior statutory auditor was Stephen Seifert BA FCA , for and on behalf of Elliot, Woolfe & Rose Audit and Advisory Services LLP .
9. Related party transactions
During the year the company made sales to Al-Khair Foundation amounting to £1,444,815 (2023: £1,381,468).The company is also a wholly owned subsidiary of Al-Khair Foundation.
10. Controlling party
The ultimate parent undertaking is Al-Khair Foundation, a company incorporated in England and Wales.