Beezr Studios Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC261821 (Scotland)

BEEZR STUDIOS LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A MacCuish

REGISTERED OFFICE:

St George's Studios (Studio 15)

93-97 St George's Road

Glasgow

G3 6JA

REGISTERED NUMBER:

SC261821 (Scotland)

ACCOUNTANTS:

Benham Conway & Co

16 Royal Crescent

Glasgow

G3 7SL

FIXED ASSETS

Tangible assets

4

22,996

26,491

CURRENT ASSETS

Debtors

5

552,623

293,174

Cash at bank

875,964

615,997

1,428,587

909,171

CREDITORS

Amounts falling due within one year

6

1,044,416

708,848

NET CURRENT ASSETS

384,171

200,323

TOTAL ASSETS LESS CURRENT LIABILITIES

407,167

226,814

CREDITORS

Amounts falling due after more than one year

7

(272,000

)

-

PROVISIONS FOR LIABILITIES

(4,369

)

(5,119

)

NET ASSETS

130,798

221,695

CAPITAL AND RESERVES

Called up share capital

96,002

96,002

Retained earnings

34,796

125,693

SHAREHOLDERS' FUNDS

130,798

221,695

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 20 March 2023 and were signed by:

A MacCuish - Director

1.	STATUTORY INFORMATION

Beezr Studios Ltd is a private company, limited by shares , registered in Scotland. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Production turnover represents amounts receivable in producing content and is recognisable over the period of the production and in accordance with the underlying contract. Gross profit on production is recognised over the period of the production.

Turnover excludes value added tax.

Tangible fixed assets

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

Land and buildings

-

20% on cost

Plant and machinery etc

-

20% on cost

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.

Leasing commitments

Rentals paid under operating leases are charged to the profit and loss account 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.

Government grants

Grants towards capital expenditure are credited to deferred income and released to the profit and loss account over the expected useful life of the asset. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2021 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2021

8,502

501,371

509,873

Additions

-

14,740

14,740

At 31 March 2022

8,502

516,111

524,613

DEPRECIATION

At 1 April 2021

8,502

474,880

483,382

Charge for year

-

18,235

18,235

At 31 March 2022

8,502

493,115

501,617

NET BOOK VALUE

At 31 March 2022

-

22,996

22,996

At 31 March 2021

-

26,491

26,491

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

167,768

61,472

Amounts owed by group company

72,175

7,660

Other debtors

91,006

22,723

Director's loan account

185,220

169,858

Tax recoverable

36,454

31,461

552,623

293,174

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts

-

43,307

Trade creditors

205,360

179,166

Loan

60,000

12,000

Taxation and social security

151,455

240,405

Other creditors

627,601

233,970

1,044,416

708,848

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Loan

272,000

-

Loans repayable by instalments falling due in more than five years are £16,000.

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.22

31.3.21

£

£

Bank loan

320,000

-

The company's bankers have a floating charge over the company's assets.

9.	OTHER FINANCIAL COMMITMENTS

At 31 March 2022 the company was committed to making total payments under non-cancellable operating leases of £12,438 (2021, £21,668).

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year to 31 March 2022 the company had provided the director with a loan of £185,220 (2021, £169,858) on which interest was charged at 2%.