THE NEST TV GROUP LIMITED


Directors	BATT, Stewart George
	DRENNAN, Derek


Registered Address	20 Wenlock Road
	London
	N1 7GU


Place of Business	Nest Productions
	Unit 414
	Exmouth House, 3/11 Pine Street,
	London
	EC1R 0JH


Registered Number	12870481 (England and Wales)

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The Nest TV Group Limited is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes and other sales taxes

	Revenue from rendering of services
	Revenue represents amounts receivable for Production services and related activities, net of value added tax. Revenue from the provision of Production Services is recognised by reference to the stage of completion of the services at the balance sheet date when the outcome of the transaction can be estimated reliably. The stage of completion is assessed by comparing costs incurred to date with the estimated total costs of the contract. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the costs incurred that are expected to be recoverable.

Revenue from rendering of services

Revenue represents amounts receivable for Production services and related activities, net of value added tax. Revenue from the provision of Production Services is recognised by reference to the stage of completion of the services at the balance sheet date when the outcome of the transaction can be estimated reliably. The stage of completion is assessed by comparing costs incurred to date with the estimated total costs of the contract. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the costs incurred that are expected to be recoverable.

	Employee benefits
	The company operates a defined contribution workplace pension scheme for employees. Contributions payable to the scheme are recognised as an expense in the profit and loss in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Taxation for the period comprises current and deferred tax. Tax is recognised in the income statement except to the extent that is relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Current taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the income statement except to the extent that is relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are initially recorded at cost, less any accumulated depreciation and subsequent impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


		Reducing balance (%)
	Fixtures and fittings	15
	Office Equipment	25

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is considered material and fair value can be reliably measured. Changes in fair value are recognised in the profit and loss account. Unlisted investments are measured at fair value when it can be measured reliably; otherwise, they are measured at cost less any accumulated impairment losses.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses.
Listed investments are measured at fair value where the difference between cost and fair value is considered material and fair value can be reliably measured. Changes in fair value are recognised in the profit and loss account.
Unlisted investments are measured at fair value when it can be measured reliably; otherwise, they are measured at cost less any accumulated impairment losses.

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

	Trade and other debtors
	Trade debtors are amounts due from customers for services provided and are initially recognised at the transaction value. They are subsequently measured at the invoiced amount less any provision for expected credit losses, with the impairment charged to the profit or loss account, to reflect amounts that are likely to be irrecoverable. Impairment provisions are reviewed at each reporting date and adjusted to reflect the current best estimate.

Trade and other debtors

Trade debtors are amounts due from customers for services provided and are initially recognised at the transaction value. 
They are subsequently measured at the invoiced amount less any provision for expected credit losses, with the impairment charged to the profit or loss account, to reflect amounts that are likely to be irrecoverable. Impairment provisions are reviewed at each reporting date and adjusted to reflect the current best estimate.

	Cash and cash equivalents
	Cash and cash equivalents include cash in hand, bank balances and other short-term investments that can be quickly converted into cash with minimal risk of a change in value. These are held to meet short-term operational needs rather than investment purposes.

	Trade and other creditors
	Trade creditors are an obligation to pay suppliers for goods or services received in the normal course of business.

	Financial instruments
	The company holds only basic financial instruments, such as trade and other receivables, cash at bank and trade and other creditors. These are recognised at their transaction value on initial recognition and are subsequently measured at amortised cost.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	25		35

3.	Further information regarding the company's income
	Deferred income represents amounts received or invoiced for productions, licences or related services that relate to future accounting periods. It is recognised as revenue when the work is performed, delivered, or any conditions attached to the payment are met.

4.	Tangible fixed assets

	Fixtures & fittings	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 January 24	4,570	12,913	17,483
Additions	-	4,679	4,679
Disposals	(2,368)	-	(2,368)
At 31 December 24	2,202	17,592	19,794
Depreciation and impairment
At 01 January 24	574	3,910	4,484
Charge for year	563	2,835	3,398
At 31 December 24	1,137	6,745	7,882
Net book value
At 31 December 24	1,065	10,847	11,912
At 31 December 23	3,996	9,003	12,999

5.	Fixed asset investments

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 January 24	501	501
Additions	1	1
At 31 December 24	502	502
Net book value
At 31 December 24	502	502
At 31 December 23	501	501

	Notes
	¹Investments in group undertakings and participating interests

6.	Provisions for liabilities
	Provisions are recognised when the company has a present legal or constructive obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount. Provisions are reviewed at each reporting date and adjusted to reflect the current best estimate.

	2024	2023
	£	£
Net deferred tax liability (asset)	2,978	3,057
Total	2,978	3,057

7.	Related party transactions
	Related parties include individuals or entities that have control, joint control, or significant influence over the company. This includes partners closely connected to those in control or significant influence. The company makes reasonable efforts to identify such related parties, including enquiries of key management personnel and those in control, to ensure all relevant transactions are disclosed. During the year, the company advanced a loan to Honeybird, an entity in which the company holds more than 25% but not more than 50% of the shares.. These are detailed below. • Nature of transaction: Provision of a loan to finance production costs • Amount £: 327,166 • Outstanding amount £: 327,166 Balances outstanding at the year-end are unsecured, interest-free, and expected to be settled in cash. No guarantees have been provided or received in respect of related party receivables or payables.

Related party transactions

Related parties include individuals or entities that have control, joint control, or significant influence over the company. This includes partners closely connected to those in control or significant influence. The company makes reasonable efforts to identify such related parties, including enquiries of key management personnel and those in control, to ensure all relevant transactions are disclosed. 
During the year, the company advanced a loan to Honeybird, an entity in which the company holds more than 25% but not more than 50% of the shares.. These are detailed below.

•	Nature of transaction: Provision of a loan to finance production costs
•	Amount £: 327,166
•	Outstanding amount £: 327,166

Balances outstanding at the year-end are unsecured, interest-free, and expected to be settled in cash. No guarantees have been provided or received in respect of related party receivables or payables.

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	4		11,912		12,999
Investments	5		502		501
			12,414		13,500
Current assets
Stocks		-		496,284
Debtors		975,617		409,976
Cash at bank and on hand		258,915		338,021
		1,234,532		1,244,281
Creditors amounts falling due within one year		(1,000,231)		(1,087,605)
Net current assets (liabilities)			234,301		156,676
Total assets less current liabilities			246,715		170,176
Provisions for liabilities	6		(2,978)		(3,057)
Net assets			243,737		167,119
Capital and reserves
Called up share capital			100		100
Profit and loss account			243,637		167,019
Shareholders' funds			243,737		167,119