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REGISTERED NUMBER: SC146727 (Scotland)
















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Edit 123 (Television Facilities) Ltd

Edit 123 (Television Facilities) Ltd (Registered number: SC146727)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Edit 123 (Television Facilities) Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTOR: Y McCalister



SECRETARY: Y McCalister



REGISTERED OFFICE: 123 Blythswood Street
Glasgow
G2 4EN



REGISTERED NUMBER: SC146727 (Scotland)



ACCOUNTANTS: McLay, McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF



SOLICITORS: R & J M Hill Brown & Co
3 Newton Place
Glasgow
G3 7PY

Edit 123 (Television Facilities) Ltd (Registered number: SC146727)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 323,581 340,810

CURRENT ASSETS
Debtors 5 398,897 566,865
Cash at bank 985,817 711,983
1,384,714 1,278,848
CREDITORS
Amounts falling due within one year 6 (696,795 ) (731,358 )
NET CURRENT ASSETS 687,919 547,490
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,011,500

888,300

PROVISIONS FOR LIABILITIES 8 (51,000 ) (38,000 )
NET ASSETS 960,500 850,300

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 960,498 850,298
SHAREHOLDERS' FUNDS 960,500 850,300

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 October 2023 and were signed by:



Y McCalister - Director


Edit 123 (Television Facilities) Ltd (Registered number: SC146727)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Edit 123 (Television Facilities) 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
Turnover represents net invoiced sales of services, excluding value added tax.

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 - over 5 years from date of acquisition
Plant & machinery - over 5 years from date of acquisition
Motor vehicles - over 4 years from date of acquisition

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

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 25 (2022 - 22 ) .

Edit 123 (Television Facilities) Ltd (Registered number: SC146727)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 June 2022 336,366 3,822,182 41,079 4,199,627
Additions - 104,123 - 104,123
At 31 May 2023 336,366 3,926,305 41,079 4,303,750
DEPRECIATION
At 1 June 2022 326,427 3,520,751 11,639 3,858,817
Charge for year 4,186 108,950 8,216 121,352
At 31 May 2023 330,613 3,629,701 19,855 3,980,169
NET BOOK VALUE
At 31 May 2023 5,753 296,604 21,224 323,581
At 31 May 2022 9,939 301,431 29,440 340,810

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 206,449 319,060
Other debtors 192,448 247,805
398,897 566,865

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 206,956 230,641
Taxation and social security 158,930 107,808
Other creditors 330,909 392,909
696,795 731,358

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.5.23 31.5.22
£    £   
Within one year 96,364 96,364
Between one and five years 24,091 120,455
120,455 216,819

8. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax 51,000 38,000

Edit 123 (Television Facilities) Ltd (Registered number: SC146727)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2022 38,000
Movement 13,000
Balance at 31 May 2023 51,000