The Independent Euro TV Department Limited
Unaudited Financial Statements
For the year ended 31 August 2024
Pages for Filing with Registrar
Company Registration No. 04052066 (England and Wales)
The Independent Euro TV Department Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
The Independent Euro TV Department Limited
Balance Sheet
As at 31 August 2024
Page 1
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
10,397
29,153
Cash at bank and in hand
63
5,556
10,460
34,709
Creditors: amounts falling due within one year
4
(231,997)
(242,979)
Net current liabilities
(221,537)
(208,270)
Creditors: amounts falling due after more than one year
5
(7,380)
(23,275)
Net liabilities
(228,917)
(231,545)
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
(228,919)
(231,547)
Total equity
(228,917)
(231,545)

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

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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 and signed by the director and authorised for issue on 13 May 2025
Ms N S Webster
Director
Company Registration No. 04052066
The Independent Euro TV Department Limited
Notes to the Financial Statements
For the year ended 31 August 2024
Page 2
1
Accounting policies
Company information

The Independent Euro TV Department Limited is a private company limited by shares incorporated in England and Wales. The registered office is Studio 2, 47 Ellerton Road, London, United Kingdom, SW18 3NQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of 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 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

The company had net liabilities as at the 31 August 2024 of £228,917 (2023: £231,545). These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future. The director has confirmed that she will continue to support the company to meet its day to day capital requirements for a period of at least one year from the date of signing these accounts.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

 

1.6
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.

The Independent Euro TV Department Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2024
1
Accounting policies
(Continued)
Page 3

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including director) employed by the company during the year was 1 (2023 - 1).

2024
2023
Number
Number
Total
1
1
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
10,397
29,153
4
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
27,084
9,840
Trade creditors
11,419
21,838
Corporation tax
-
0
227
Other taxation and social security
3,590
9,598
Other creditors
184,904
196,976
Accruals and deferred income
5,000
4,500
231,997
242,979

 

The Independent Euro TV Department Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2024
Page 4
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
7,380
23,275
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
7
Related party transactions

Included in other creditors at the year end is the amount of £184,904 (2023: £196,976) due to the company's director, N S Webster.

8
Control

The ultimate controlling party is N S Webster, the director of the company.

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