Asia TV Limited
Annual Report and Financial Statements
For the year ended 31 March 2025
Company Registration No. 2716006 (England and Wales)
Asia TV Limited
Company Information
Director
P Goel
Secretary
P Goel
Company number
2716006
Registered office
Devonshire House
582 Honeypot Lane
Stanmore
Middlesex
HA7 1JS
Auditor
Moore Kingston Smith LLP
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
Business address
128 Wigmore Street
Marylebone
London
W1U 3SB
Asia TV Limited
Director's Report
For the year ended 31 March 2025
Page 1

The director presents his annual report and financial statements for the year ended 31 March 2025.

Principal activities

The principal activity of the company continued to be that of distributing television channels and VoD (Video On Demand) content of Asia Today Limited.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

P Goel
Auditor

In accordance with the company's articles, a resolution proposing that Moore Kingston Smith LLP be reappointed as auditor of the company will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
P Goel
Director
25 April 2025
Asia TV Limited
Director's Responsibilities Statement
For the year ended 31 March 2025
Page 2

The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

 

 

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Asia TV Limited
Independent Auditor's Report
To the Member of Asia TV Limited
Page 3
Opinion

We have audited the financial statements of Asia TV Limited (the 'company') for the year ended 31 March 2025 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

 

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Asia TV Limited
Independent Auditor's Report (Continued)
To the Member of Asia TV Limited
Page 4

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the director's report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

 

Responsibilities of director

As explained more fully in the Director's Responsibilities Statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

 

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Asia TV Limited
Independent Auditor's Report (Continued)
To the Member of Asia TV Limited
Page 5
Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

 

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

 

 

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

 

 

Asia TV Limited
Independent Auditor's Report (Continued)
To the Member of Asia TV Limited
Page 6

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.

Our approach was as follows:

 

 

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

Use of our report

This report is made solely to the company's member in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's member those matters we are required to state to the member in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's member, for our audit work, for this report, or for the opinions we have formed.

Amanda Settle
Senior Statutory Auditor
for and on behalf of Moore Kingston Smith LLP
25 April 2025
Chartered Accountants
Statutory Auditor
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
Asia TV Limited
Profit and Loss Account
For the year ended 31 March 2025
Page 7
2025
2024
Notes
£
£
Turnover
1,262,045
7,125,728
Administrative expenses
(1,287,799)
(6,905,126)
Other operating income
-
0
646,953
Operating (loss)/profit
(25,754)
867,555
Interest payable and similar expenses
(4,625)
(8,607)
(Loss)/profit before taxation
(30,379)
858,948
Tax on (loss)/profit
4
(29,956)
(236,923)
(Loss)/profit for the financial year
(60,335)
622,025
Asia TV Limited
Balance Sheet
As at 31 March 2025
Page 8
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
5
-
0
5,007
Investments
6
9,833
13,138
9,833
18,145
Current assets
Debtors
8
434,424
23,834,075
Cash at bank and in hand
525,777
1,097,789
960,201
24,931,864
Creditors: amounts falling due within one year
9
(192,445)
(9,645,855)
Net current assets
767,756
15,286,009
Net assets
777,589
15,304,154
Capital and reserves
Called up share capital
11
2
14,466,232
Profit and loss reserves
777,587
837,922
Total equity
777,589
15,304,154

These financial statements have been prepared 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 25 April 2025
P  Goel
Director
Company Registration No. 2716006
Asia TV Limited
Statement of Changes in Equity
For the year ended 31 March 2025
Page 9
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2023
16,438,900
(1,756,771)
14,682,129
Year ended 31 March 2024:
Profit and total comprehensive income for the year
-
622,025
622,025
Reduction of shares
11
(1,972,668)
1,972,668
-
0
Balance at 31 March 2024
14,466,232
837,922
15,304,154
Year ended 31 March 2025:
Loss and total comprehensive income for the year
-
(60,335)
(60,335)
Reduction of share capital
11
(14,466,230)
-
0
(14,466,230)
Balance at 31 March 2025
2
777,587
777,589
Asia TV Limited
Notes to the Financial Statements
For the year ended 31 March 2025
Page 10
1
Accounting policies
Company information

Asia TV Limited is a private company limited by shares incorporated in England and Wales. The registered office is Devonshire House, 582 Honeypot Lane, Stanmore, Middlesex, United Kingdom, HA7 1JS.

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 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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Zee Entertainment Enterprises Limited. These consolidated financial statements are available from its registered office, 18th Floor, A Wing, Marathon Futurex, N.M. Joshi Marg, Lower Parel, Mumbai, 400 013, India.

Consolidated accounts have not been prepared because the company's results are consolidated in the publicly available accounts of Zee Entertainment Enterprises Limited, a company incorporated in India. Accordingly, these financial statements represent information about the company as an individual undertaking and not about the group.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Asia TV Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
Page 11
1.3
Turnover

Turnover represents subscriptions earned for services rendered during the period stated net of value added tax and net of discounts. Subscriptions paid in advance are recognised as deferred income in the balance sheet. Advertising revenues are recognised upon the telecast of advertisements and subscription revenue on a time basis on the provision of television broadcasting to subscribers. Syndication income is recognised upon the delivery of the content with consideration to whether Asia TV Limited is acting as an agent or principle in a transaction and therefore recognises income net or gross respectively.

1.4
Tangible fixed assets

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

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

Fixtures and fittings
20% straight line
Computer equipment
33% straight line
Computers - Servers & networks
17% straight line
Office equipment
10% 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
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Asia TV Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
Page 12

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash at bank and in hand

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.

1.8
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 and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. 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.

Asia TV Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
Page 13
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. 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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
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.

 

1.10
Taxation

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

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 period 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.

 

The carrying amount of deferred tax assets is reviewed at each reporting period end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
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.

Asia TV Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
Page 14
1.12
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
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The critical judgements that the directors have made in the process of applying the company's accounting policies and that the most significant effects on the amounts recognised in the financial statements are is respect of:

 

 

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Subscription management cost

Zee 5 subscription income is collected by a third party with an administration charge applied. The charge is estimated based on the difference between billings and receipts.

3
Employees

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

2025
2024
Number
Number
Total
1
6
Asia TV Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 15
4
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
11,263
123,350
Adjustments in respect of prior periods
(1,654)
-
0
Total current tax
9,609
123,350
Deferred tax
Origination and reversal of timing differences
20,347
113,573
Total tax charge
29,956
236,923
5
Tangible fixed assets
Plant and machinery etc
Office equipment
Total
£
£
£
Cost
At 1 April 2024
39,146
16,306
55,452
Disposals
(39,146)
(16,306)
(55,452)
At 31 March 2025
-
0
-
0
-
0
Depreciation and impairment
At 1 April 2024
34,139
16,306
50,445
Depreciation charged in the year
5,007
-
0
5,007
Eliminated in respect of disposals
(39,146)
(16,306)
(55,452)
At 31 March 2025
-
0
-
0
-
0
Carrying amount
At 31 March 2025
-
0
-
0
-
0
At 31 March 2024
5,007
-
0
5,007
6
Fixed asset investments
2025
2024
£
£
Investments in subsidiaries
9,813
13,118
Unlisted investments
20
20
9,833
13,138
Asia TV Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
6
Fixed asset investments
(Continued)
Page 16
Movements in fixed asset investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 April 2024
13,118
20
13,138
Disposals
(3,305)
-
(3,305)
At 31 March 2025
9,813
20
9,833
Carrying amount
At 31 March 2025
9,813
20
9,833
At 31 March 2024
13,118
20
13,138
7
Subsidiaries

Details of the company's subsidiaries at 31 March 2025 are as follows:

Name of undertaking
Registered
% Held
office
Direct
Indirect
Zee CIS Holdings
Russia
100
0
Asia TV GmbH
Germany
100
0
Zee CIS LLC
Russia
49
51

Asia TV GmbH is in liquidation while Zee CIS Holdings is a holding company. The principal activity of Zee CIS LLIC is a distributor of TV and digital products, earnings revenues, holding various ground events, production of local content, sale of programmes and other marketing and promotional activities. Investments in subsidiaries are accounted at cost. The company is exempt from the obligation to prepare group accounts as the accounts are consolidated in the accounts of the ultimate parent company.

 

Zee CIS LLC - Room 01, Building 18/11, Novoryazanskaya Str, Moscow. 107078, Russia

 

Zee CIS Holdings - Room 19, Building 18/2, Novoryazanskaya Str, Moscow, 107078, Russia

 

Asia TV GmbH - K2K GmbH, Handlestrasse 1, Munich 81675

Asia TV Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 17
8
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
-
0
899,125
Amounts due from group undertakings
434,424
22,550,715
Other debtors
-
0
244,902
Prepayments and accrued income
-
0
118,986
434,424
23,813,728
Deferred tax asset (note 10)
-
0
20,347
434,424
23,834,075
9
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
10,394
413,129
Amounts owed to group undertakings
134,788
8,081,117
Corporation tax
11,263
60,850
Other taxation and social security
-
0
139,609
Other creditors
-
0
144,508
Accruals and deferred income
36,000
806,642
192,445
9,645,855
10
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Assets
Assets
2025
2024
Balances:
£
£
Fixed asset timing differences
-
9,852
Short term timing differences
-
10,495
-
20,347
Asia TV Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
10
Deferred taxation
(Continued)
Page 18
2025
Movements in the year:
£
Asset at 1 April 2024
(20,347)
Charge to profit or loss
20,347
Liability at 31 March 2025
-
11
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
16,438,900
16,438,900
2
14,466,232

On 18 June 2024, by way of a solvency statement, the company reduced the nominal value of its ordinary shares by £0.5474819 from £0.88 to £0.3325181. The reduction has been transferred to the profit and loss reserve.

 

On 24 July 2024 by way of a solvency statement, the company reduced the nominal value of its ordinary shares by £0.332518 from £0.3325181 to £0.0000001. The reduction has been transferred to the profit and loss reserve.

 

12
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Within one year
-
0
140,715
Between two and five years
-
0
82,215
-
0
222,930

There are no capital commitments contracted for but not provided (2024: nil).

13
Related party transactions

The company has taken the exemption, in accordance with FRS 102 - Section 33 "Related Party Disclosures", from disclosing related party transactions entered into between members of a group, provided that any subsidiary which is party to the transaction is wholly owned by such a member.

Asia TV Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 19
14
Parent company

The parent undertaking of the largest group which includes the company and for which group financial statements are prepared is Zee Entertainment Enterprises Ltd, a company incorporated in India. The parent undertaking of the smallest group is Asia Today Limited, a company incorporated in Mauritius.

 

Copies of the group financial statements for both companies are available from Zee Entertainment Enterprises Ltd, 18th Floor, A Wing, Marathon Futurex, N.M. Joshi Marg, Lower Parel, Mumbai, 400 013, India.

 

The directors regard Zee Entertainment Enterprises Ltd as the ultimate parent undertaking. Asia Today Limited is the immediate parent company.

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