AdgenTV Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09315687 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2019

for

AdgenTV Solutions Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C D Brighton

A B Kensington

REGISTERED OFFICE:

C7-C8

Spectrum Business Centre

Anthony's Way

Rochester

Kent

ME2 4NP

REGISTERED NUMBER:

09315687 (England and Wales)

ACCOUNTANT:

Aspirations Accountancy Ltd

C7-C8

Spectrum Business Centre

Anthony's Way

Rochester

Kent

ME2 4NP

FIXED ASSETS

Tangible assets

4

481

602

CURRENT ASSETS

Stocks

10,344

-

Debtors

24,110

41,114

34,454

41,114

CREDITORS

Amounts falling due within one year

297,501

307,295

NET CURRENT LIABILITIES

(263,047

)

(266,181

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(262,566

)

(265,579

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(262,666

)

(265,679

)

SHAREHOLDERS' FUNDS

(262,566

)

(265,579

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 January 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 15 March 2019 and were signed on its behalf by:

C D Brighton - Director

1.	STATUTORY INFORMATION

AdgenTV Solutions Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors are of the opinion that the company is a going concern on the basis that considerable

expenditure has been incurred in the prior period on research and development in order to bring the product

to market.

The directors will continue to support the company until such time as it is in a positive position.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except

to the extent that it 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 that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2018

and 31 January 2019

752

DEPRECIATION

At 1 February 2018

150

Charge for year

121

At 31 January 2019

271

NET BOOK VALUE

At 31 January 2019

481

At 31 January 2018

602

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2019 and

31 January 2018:

2019

2018

£

£

C D Brighton

Balance outstanding at start of year

(109,097

)

(102,541

)

Amounts advanced

1,720

5,289

Amounts repaid

(15,887

)

(11,845

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(123,264

)

(109,097

)

6.	ULTIMATE CONTROLLING PARTY

The controlling party is C D Brighton.

The ultimate controlling party is C D Brighton.