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COMPANY REGISTRATION NUMBER: 08259082
DTV Optimise Limited
Filleted Financial Statements
30 September 2024
DTV Optimise Limited
Financial Statements
Year ended 30 September 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
DTV Optimise Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
21,748
23,443
Current assets
Debtors
6
304,812
290,907
Cash at bank and in hand
184,942
246,072
---------
---------
489,754
536,979
Creditors: amounts falling due within one year
7
170,462
260,106
---------
---------
Net current assets
319,292
276,873
---------
---------
Total assets less current liabilities
341,040
300,316
Creditors: amounts falling due after more than one year
8
500,001
500,000
---------
---------
Net liabilities
( 158,961)
( 199,684)
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
( 159,961)
( 200,684)
---------
---------
Shareholders deficit
( 158,961)
( 199,684)
---------
---------
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 20 May 2025 , and are signed on behalf of the board by:
Mr R W Hill
Director
Company registration number: 08259082
DTV Optimise Limited
Notes to the Financial Statements
Year ended 30 September 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 Daisy Holborn Studios, 9-50 Eagle Wharf Road, London, N1 7ED, England.
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.
Going concern
The accounts have been prepared on a going concern basis which assumes the continued support of the Parent Company, who have confirmed they will provide support for at least twelve months from the date of approval of the accounts.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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:
Fixtures and fittings
-
25% straight line
Equipment
-
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.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 78 (2023: 73 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 October 2023
25,819
118,056
143,875
Additions
6,926
6,926
--------
---------
---------
At 30 September 2024
25,819
124,982
150,801
--------
---------
---------
Depreciation
At 1 October 2023
23,963
96,469
120,432
Charge for the year
655
7,966
8,621
--------
---------
---------
At 30 September 2024
24,618
104,435
129,053
--------
---------
---------
Carrying amount
At 30 September 2024
1,201
20,547
21,748
--------
---------
---------
At 30 September 2023
1,856
21,587
23,443
--------
---------
---------
6. Debtors
2024
2023
£
£
Trade debtors
120,917
178,050
Prepayments and accrued income
36,165
33,980
Other debtors
147,730
78,877
---------
---------
304,812
290,907
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
30,123
30,947
Amounts owed to group undertakings
49,249
Accruals and deferred income
20,163
22,905
Corporation tax
14,304
28,946
Social security and other taxes
105,872
128,023
Other creditors
36
---------
---------
170,462
260,106
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Amounts owed to group undertakings
500,001
500,000
---------
---------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
44,592
36,813
Later than 1 year and not later than 5 years
44,592
--------
--------
89,184
36,813
--------
--------
10. Summary audit opinion
The auditor's report dated 22 May 2025 was unqualified .
The senior statutory auditor was Thomas York FCCA , for and on behalf of Edmund Carr LLP .
11. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
Balance owed by/(owed to)
2024
2023
2024
2023
£
£
£
£
Demo TV Limited
( 500,001)
( 549,249)
----
----
---------
---------
The company was under the control of Demo TV Limited throughout the period.
12. Controlling party
The parent company is Demo TV Limited, a company registered in the United Kingdom, whose registered office is at Studio 18, Holborn Studios, Eagle Wharf Road, London, N1 7ED. The ultimate controlling party is DTV Trustees Limited. The company is also registered in the United Kingdom and has the same registered office as Demo TV Limited.