Beezr Studios Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC261821 (Scotland)

BEEZR STUDIOS LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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

14,434

22,996

CURRENT ASSETS

Debtors

5

524,153

552,623

Cash at bank

359,976

875,964

884,129

1,428,587

CREDITORS

Amounts falling due within one year

6

495,598

1,044,416

NET CURRENT ASSETS

388,531

384,171

TOTAL ASSETS LESS CURRENT LIABILITIES

402,965

407,167

CREDITORS

Amounts falling due after more than one year

7

(208,000

)

(272,000

)

PROVISIONS FOR LIABILITIES

(2,742

)

(4,369

)

NET ASSETS

192,223

130,798

CAPITAL AND RESERVES

Called up share capital

96,002

96,002

Retained earnings

96,221

34,796

SHAREHOLDERS' FUNDS

192,223

130,798

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 6 December 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 20 (2022 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2022

8,502

516,111

524,613

Additions

-

1,295

1,295

At 31 March 2023

8,502

517,406

525,908

DEPRECIATION

At 1 April 2022

8,502

493,115

501,617

Charge for year

-

9,857

9,857

At 31 March 2023

8,502

502,972

511,474

NET BOOK VALUE

At 31 March 2023

-

14,434

14,434

At 31 March 2022

-

22,996

22,996

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

153,598

167,768

Amounts owed by group company

-

72,175

Other debtors

33,410

91,006

Director's loan account

212,272

185,220

Tax recoverable

124,873

36,454

524,153

552,623

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade creditors

125,662

205,360

Loan

76,000

60,000

Taxation and social security

41,817

151,455

Amount owed to group company

46,172

-

Other creditors

205,947

627,601

495,598

1,044,416

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Loan

208,000

272,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.23

31.3.22

£

£

Bank loan

272,000

320,000

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

9.	OTHER FINANCIAL COMMITMENTS

At 31 March 2023 the company was committed to making total payments under non-cancellable operating leases of £170,833 (2022, £12,438).

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year to 31 March 2023 the company had provided the director with a loan of £212,272 (2022, £185,220) on which interest was charged at 2%.