General Information
Subtvu Limited is a private company, limited by shares, registered in England and Wales, registration number 09758453, registration address Vox Studios, Unit W205 1 - 45 Durham Street, Vauxhall, London, SE11 5JH.
The presentation currency is £ sterling.
1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation for the period 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 taxation
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 period 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.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Short leasehold |
20% Straight Line |
Plant and Machinery |
10% Straight Line
|
Fixtures and Fittings |
20% Straight Line
|
Computer Equipment & screen installations |
33% Straight Line
|
Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment
|
2. |
Average number of employees
Average number of employees during the year was 15 (2019 : 17).
|
3. |
Financial Commitments, Guarantees and Contingencies
Minimum lease payments under non-cancellable operating leases fall due as follows:
|
|
2020 £ |
|
2019 £ |
Within one year |
|
80,075 |
|
75,225 |
Between one and five years |
|
91,722 |
|
92,104 |
In more than five years |
|
- |
|
88,283 |
|
|
171,797 |
|
255,612 |
|
4. |
Tangible fixed assets
Cost or valuation |
Short leasehold |
|
Plant and Machinery |
|
Fixtures and Fittings |
|
Computer Equipment & screen installations |
|
Total |
|
£ |
|
£ |
|
£ |
|
£ |
|
£ |
At 01 January 2020 |
13,700 |
|
412 |
|
30,256 |
|
113,539 |
|
157,907 |
Additions |
3,310 |
|
- |
|
4,659 |
|
9,015 |
|
16,984 |
Disposals |
- |
|
- |
|
- |
|
- |
|
- |
At 31 December 2020 |
17,010 |
|
412 |
|
34,915 |
|
122,554 |
|
174,891 |
Depreciation |
At 01 January 2020 |
- |
|
93 |
|
9,055 |
|
27,632 |
|
36,780 |
Charge for year |
3,402 |
|
41 |
|
6,923 |
|
35,414 |
|
45,780 |
On disposals |
- |
|
- |
|
- |
|
- |
|
- |
At 31 December 2020 |
3,402 |
|
134 |
|
15,978 |
|
63,046 |
|
82,560 |
Net book values |
Closing balance as at 31 December 2020 |
13,608 |
|
278 |
|
18,937 |
|
59,508 |
|
92,331 |
Opening balance as at 01 January 2020 |
13,700 |
|
319 |
|
21,200 |
|
85,907 |
|
121,126 |
|
5. |
Investments
Cost |
Other investments other than loans |
|
Total |
|
£ |
|
£ |
At 01 January 2020 |
976 |
|
976 |
Additions |
- |
|
- |
Disposals |
(976) |
|
(976) |
At 31 December 2020 |
- |
|
- |
|
6. |
Debtors: amounts falling due within one year
|
2020 £ |
|
2019 £ |
Trade Debtors |
360,837 |
|
673,630 |
Amount Owed by Group Undertakings |
218,760 |
|
- |
Prepayments & Accrued Income |
37,119 |
|
8,700 |
Other Debtors |
43,892 |
|
43,892 |
|
660,608 |
|
726,222 |
|
7. |
Creditors: amount falling due within one year
|
2020 £ |
|
2019 £ |
Trade Creditors |
204,040 |
|
198,517 |
PAYE & Social Security |
26,591 |
|
15,997 |
Accrued Expenses |
814,162 |
|
850,700 |
Other Creditors |
602 |
|
7,697 |
VAT |
176,111 |
|
145,042 |
|
1,221,506 |
|
1,217,953 |
|
8. |
Share Capital
Allotted, called up and fully paid
|
2020 £ |
|
2019 £ |
78,532
Ordinary (£0.01) shares of £0.01 each |
785 |
|
785 |
919,988,000
Deferred shares of £0.01 each |
9,199,880 |
|
9,199,880 |
37,468
A Ordinary shares of £0.01 each |
375 |
|
375 |
|
9,201,040 |
|
9,201,040 |
|
3
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