AdgenTV Solutions Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 09315687 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2017

for

AdgenTV Solutions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C D Brighton

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

CURRENT ASSETS

Debtors

4

42,729

30,078

CREDITORS

Amounts falling due within one year

5

302,175

236,026

NET CURRENT LIABILITIES

(259,446

)

(205,948

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(259,446

)

(205,948

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(259,546

)

(206,048

)

SHAREHOLDERS' FUNDS

(259,446

)

(205,948

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

The financial statements were approved by the director on 16 October 2017 and were signed 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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

3,020

1,091

Amounts owed by group undertakings

16,716

-

Other debtors

22,993

28,987

42,729

30,078

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

24,493

47

Trade creditors

162,694

173,128

Taxation and social security

4,870

(31,609

)

Other creditors

110,118

94,460

302,175

236,026

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 January 2017 and the

period ended 31 January 2016:

2017

2016

£

£

C D Brighton

Balance outstanding at start of year

(82,875

)

-

Amounts advanced

36,289

-

Amounts repaid

(55,955

)

(82,875

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(102,541

)

(82,875

)

7.	ULTIMATE CONTROLLING PARTY

The controlling party is C D Brighton.

The ultimate controlling party is C D Brighton.