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Registered number: 09348334









TALKING PICTURES TV LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
TALKING PICTURES TV LIMITED
REGISTERED NUMBER: 09348334

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
20,000
20,000

Investments
 5 
200
200

  
20,200
20,200

Current assets
  

Stocks
 6 
557,348
459,080

Debtors: amounts falling due within one year
 7 
1,244,122
1,199,914

Cash at bank and in hand
  
639,217
343,546

  
2,440,687
2,002,540

Creditors: amounts falling due within one year
 8 
(2,198,470)
(1,216,743)

Net current assets
  
 
 
242,217
 
 
785,797

Total assets less current liabilities
  
262,417
805,997

  

Net assets
  
262,417
805,997


Capital and reserves
  

Called up share capital 
 9 
116
116

Share premium account
  
159,984
159,984

Profit and loss account
  
102,317
645,897

  
262,417
805,997


Page 1

 
TALKING PICTURES TV LIMITED
REGISTERED NUMBER: 09348334
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 May 2025.




Mrs S Cronin-Stanley
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
TALKING PICTURES TV LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Talking Pictures TV Limited is a private company limited by shares incorporated in England and Wales.  The address of the registered office is as follows: Charles Lake House, Claire Causeway, Crossways Business Park, Dartford, Kent, DA2 6QA.
The company's principal activity continues to be that of an independent archive film and television channel.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
TALKING PICTURES TV LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


 
2.6

Intangible assets

Intangible assets relate to the purchase of Electronic Programme Guide (EPG) slots. There has been a departure from the Financial Reporting Standard which states that intangible assets cannot have an indefinite life.  The directors consider the lifetime of the asset to be indefinite and on that basis no amortisation is provided in the accounts.  If the standard applied, an amortisation charge of £14,500 would be recognised in the statement of comprehensive income.  Had the intangible asset been amortised in thie way the net book value of the asset at the year end would have been £18,125.

Although amortisation is not charged, intangible assets are assessed at each balance sheet date to determine whether there is any indication of impairment.  An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Stocks

Stock represents the cost of film rights and film titles purchased less income received where appropriate.  Stock is valued at the lower of cost and the directors' estimation of future net realisable value.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
TALKING PICTURES TV LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.12

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Intangible assets




EPG

£



Cost


At 1 January 2024
145,000



At 31 December 2024

145,000



Amortisation


At 1 January 2024
125,000



At 31 December 2024

125,000



Net book value



At 31 December 2024
20,000



At 31 December 2023
20,000



Page 5

 
TALKING PICTURES TV LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
200



At 31 December 2024
200





6.


Stocks

2024
2023
£
£

Film licensing
557,348
459,080



7.


Debtors

2024
2023
£
£


Trade debtors
185
177

Other debtors
66,225
98,350

Prepayments and accrued income
1,177,712
1,101,387

1,244,122
1,199,914



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,962,214
1,086,872

Other taxation and social security
198,432
90,766

Other creditors
29,132
30,540

Accruals and deferred income
8,692
8,565

2,198,470
1,216,743


Page 6

 
TALKING PICTURES TV LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



116 (2023 - 116) Ordinary shares of £1.00 each
116
116



10.


Related party transactions

At the year end the company owed £26,046 (2023 - £26,154) to the directors.  The directors have an interest in dividends declared of £26,000 (2023: £26,000).

 
Page 7