Television House Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05848347 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2017

for

Television House Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

M R Wilkinson

N W Wilkinson

SECRETARY:

N W Wilkinson

REGISTERED OFFICE:

19 Market Place

Pickering

North Yorkshire

YO18 7AE

REGISTERED NUMBER:

05848347 (England and Wales)

ACCOUNTANTS:

Hallgarth Accountants Ltd

2 Hallgarth

Pickering

North Yorkshire

YO18 7AW

FIXED ASSETS

Intangible assets

4

111,047

124,094

Tangible assets

5

96,957

68,528

208,004

192,622

CURRENT ASSETS

Stocks

258,333

245,832

Debtors

142,424

158,568

Cash at bank and in hand

4,644

8,520

405,401

412,920

CREDITORS

Amounts falling due within one year

122,579

132,557

NET CURRENT ASSETS

282,822

280,363

TOTAL ASSETS LESS CURRENT LIABILITIES

490,826

472,985

CREDITORS

Amounts falling due after more than one year

6

(119,541

)

(133,751

)

PROVISIONS FOR LIABILITIES

(2,208

)

(2,935

)

NET ASSETS

369,077

336,299

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

369,075

336,297

SHAREHOLDERS' FUNDS

369,077

336,299

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 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 Balance Sheet for the year ended 31 July 2017 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 11 December 2017 and were signed on its behalf by:

N W Wilkinson - Director

M R Wilkinson - Director

1.	STATUTORY INFORMATION

Television House Ltd 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.

Turnover

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

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Website and development is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Improvements to property

-

2% on cost

Television Sets on Rental

-

20% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 7 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2016

and 31 July 2017

248,609

AMORTISATION

At 1 August 2016

124,515

Amortisation for year

13,047

At 31 July 2017

137,562

NET BOOK VALUE

At 31 July 2017

111,047

At 31 July 2016

124,094

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2016

89,338

Additions

34,005

Disposals

(350

)

At 31 July 2017

122,993

DEPRECIATION

At 1 August 2016

20,810

Charge for year

5,296

Eliminated on disposal

(70

)

At 31 July 2017

26,036

NET BOOK VALUE

At 31 July 2017

96,957

At 31 July 2016

68,528

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.7.17

31.7.16

£

£

Repayable by instalments

Bank loans more 5 yr by instal

65,541

81,751

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.17

31.7.16

£

£

Bank overdraft

2,660

-

Bank loans

133,041

146,751

135,701

146,751

There is a legal charge in favour of National Westminster Bank Plc in respect of all the Company's liabilities of

any kind and in any currency (whether present or future actual or contingent and whether incurred alone or

jointly with another) including banking charges, commission, interest, costs and expenses.

8.	RELATED PARTY DISCLOSURES

Establishment costs include rent of £24,260 paid to Mr M R Wilkinson and Mr N W Wilkinson in respect of the

shop premises.

9.	ULTIMATE CONTROLLING PARTY

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Television House Ltd for the year ended 31 July 2017 which comprise the Income Statement,

Abridged Balance Sheet, and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Television House Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Television House Ltd and state those matters that we have agreed to state to the Board of Directors of Television House Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Television House Ltd Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Television House Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Television House Ltd. You consider that Television House Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Television House Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hallgarth Accountants Ltd

2 Hallgarth

Pickering

North Yorkshire

YO18 7AW

13 December 2017