Spark TV Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10084243

Spark TV Limited

Filleted Unaudited Accounts

31 May 2025

Spark TV Limited

Statement of Financial Position

31 May 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	1,033	2,224

Current assets

Debtors	6	5,433	15,638
Cash at bank and in hand		6,317	453
		--------	--------
		11,750	16,091

Creditors: amounts falling due within one year	7	( 329,406)	( 321,713)
		---------	---------
Net current liabilities		( 317,656)	( 305,622)
		---------	---------
Total assets less current liabilities		( 316,623)	( 303,398)

Creditors: amounts falling due after more than one year	8	( 24,615)	( 29,287)
		---------	---------
Net liabilities		( 341,238)	( 332,685)
		---------	---------

Capital and reserves

Called up share capital	238	238
Share premium account	122,362	122,362
Profit and loss account	( 463,838)	( 455,285)
	---------	---------
Shareholders deficit	( 341,238)	( 332,685)
	---------	---------

These accounts 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.

For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts .

Spark TV Limited

Statement of Financial Position (continued)

31 May 2025

These accounts were approved by the board of directors and authorised for issue on 28 May 2026 , and are signed on behalf of the board by:

P Wooding

Director

Company registration number: 10084243

Spark TV Limited

Notes to the Accounts

Year ended 31 May 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 East Pallant, Chichester, West Sussex, PO191TR, England.

2. Statement of compliance

These accounts 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. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors consider the operations of the Company to be ongoing, with a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and accordingly these financial statements have been prepared on the going concern basis. The company has redirected its efforts into corporate markets and is slowly seeing growth here. There are a number of key deals in the pipeline and there are a number of partly financed broadcast projects with broadcasters that will crystallise in the near future. The long term loan provided to the company and is not due for repayment until underlying performance of the company improves sufficiently. Accordingly, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. The company invoices for services/production milestones as agreed, these services are matched to payment and expenditure incurred for the work performed to meet the milestone.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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:

Plant and machinery	-	25% straight line
Computer 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

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

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 1 (2024: 1 ).

5. Tangible assets

	Plant and machinery	Equipment	Total
	£	£	£
Cost
At 1 June 2024 and 31 May 2025	4,363	2,835	7,198
	-------	-------	-------
Depreciation
At 1 June 2024	2,339	2,635	4,974
Charge for the year	1,091	100	1,191
	-------	-------	-------
At 31 May 2025	3,430	2,735	6,165
	-------	-------	-------
Carrying amount
At 31 May 2025	933	100	1,033
	-------	-------	-------
At 31 May 2024	2,024	200	2,224
	-------	-------	-------

6. Debtors

	2025	2024
	£	£
Trade debtors	–	1,206
Other debtors	5,433	14,432
	-------	--------
	5,433	15,638
	-------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	6,028	8,330
Trade creditors	42,060	40,531
Amounts owed to group undertakings and undertakings in which the company has a participating interest	115,312	106,586
Social security and other taxes	1,759	1,573
Other creditors	164,247	164,693
	---------	---------
	329,406	321,713
	---------	---------

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	24,615	29,287
	--------	--------

9. Directors' advances, credits and guarantees

As at the year-end, the directors loan account in respect of amounts owed to P Wooding was £265 (2024: £9,000 amounts owed by P Wooding to Spark TV Ltd).

10. Related party transactions

Spark TV Limited owes Bob and Co Limited (formerly Anthology Theatre Limited), a member of the group, £107,218 as at 31st May 2025 (2024: £106,486). Spark TV Limited owes Anthology Media Limited, the ultimate parent, £8,094 as at 31st May 2025 (2024: £118). Spark TV Limited owes Woodcut Media Limited, a related party, £25,405 as at 31st May 2025 (2024: £25,405).