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REGISTERED NUMBER: SC060598 (Scotland)









B.G.S.PRODUCTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2023






B.G.S.PRODUCTIONS LIMITED (REGISTERED NUMBER: SC060598)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2023




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


B.G.S.PRODUCTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2023







DIRECTORS: W B Garden
D B Stevenson



SECRETARY: D B Stevenson



REGISTERED OFFICE: 4 Royal Crescent
Glasgow
G3 7SL



REGISTERED NUMBER: SC060598 (Scotland)



ACCOUNTANTS: russell + russell
Chartered Certified Accountants
4 Royal Crescent
Glasgow
G3 7SL



BANKERS: The Royal Bank of Scotland

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
B.G.S.PRODUCTIONS LIMITED

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 B.G.S.Productions Limited for the year ended 30th April 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of B.G.S.Productions Limited, 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 B.G.S.Productions Limited and state those matters that we have agreed to state to the Board of Directors of B.G.S.Productions Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that B.G.S.Productions Limited 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 loss of B.G.S.Productions Limited. You consider that B.G.S.Productions Limited 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 B.G.S.Productions Limited. 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.






russell + russell
Chartered Certified Accountants
4 Royal Crescent
Glasgow
G3 7SL


19th November 2023

B.G.S.PRODUCTIONS LIMITED (REGISTERED NUMBER: SC060598)

BALANCE SHEET
30TH APRIL 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 369 1,561
369 1,561

CURRENT ASSETS
Stocks 74,478 97,227
Debtors 6 39,345 42,578
Cash at bank and in hand 4,011 2,627
117,834 142,432
CREDITORS
Amounts falling due within one year 7 173,752 169,672
NET CURRENT LIABILITIES (55,918 ) (27,240 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(55,549

)

(25,679

)

CREDITORS
Amounts falling due after more than one
year

8

34,892

40,153
NET LIABILITIES (90,441 ) (65,832 )

CAPITAL AND RESERVES
Called up share capital 10 500 500
Retained earnings (90,941 ) (66,332 )
SHAREHOLDERS' FUNDS (90,441 ) (65,832 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2023 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.

B.G.S.PRODUCTIONS LIMITED (REGISTERED NUMBER: SC060598)

BALANCE SHEET - continued
30TH APRIL 2023


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 Board of Directors and authorised for issue on 17th November 2023 and were signed on its behalf by:





D B Stevenson - Director


B.G.S.PRODUCTIONS LIMITED (REGISTERED NUMBER: SC060598)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2023

1. STATUTORY INFORMATION

B.G.S.Productions Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern basis
The financial statements have been prepared on the going concern basis. The directors believe that the
company has adequate resources and support to continue to operate for the foreseeable future and are continually taking steps to reduce costs where possible.

The company had net liabilities of £90,441 as at 30th April 2023. Included in creditors is a loan of £128,837 owed to a related company. It has been agreed that this loan will not be repaid to the detriment of the company's ability to trade.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced for audio and visual recordings sold during the year and royalty income due for the year, exclusive of Value Added Tax.

Amortisation
Amortisation is calculated so as to write off the cost of an asset, over the useful economic life of that asset as follows:

Goodwillover 3 to 5 years

Tangible fixed assets
All fixed assets are initially recorded at cost.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Asset typeDepreciation rate

Equipment & fixtures15% - 25% straight line
Master recordings33.3% straight line
Motor vehicles10% - 20% straight line
Equipment on loan20% - 25% straight line

Stocks
Stocks are valued at the lower of cost and net realisable value. The cost of work in progress comprises materials, services and production costs. The cost of audio and visual recordings for sale is the purchase price, excluding production costs, on a first in, first out basis. Net realisable value is the estimated selling price less selling expenses.

Production costs
Production costs of master recordings are capitalised as fixed assets and depreciated over 36 months from the date that the related recording is released for sale.

B.G.S.PRODUCTIONS LIMITED (REGISTERED NUMBER: SC060598)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits 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.

Royalties payable
Royalties payable are charged to the profit and loss account on the accruals basis. Net advances to artists are classified within debtors although some amounts may be recoverable after more than one year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

B.G.S.PRODUCTIONS LIMITED (REGISTERED NUMBER: SC060598)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st May 2022
and 30th April 2023 253,385
AMORTISATION
At 1st May 2022
and 30th April 2023 253,385
NET BOOK VALUE
At 30th April 2023 -
At 30th April 2022 -

5. TANGIBLE FIXED ASSETS
Equipment Equipment Master
on loan & fixtures recordings Totals
£    £    £    £   
COST
At 1st May 2022
and 30th April 2023 32,937 3,335 389,110 425,382
DEPRECIATION
At 1st May 2022 31,850 3,244 388,727 423,821
Charge for year 718 91 383 1,192
At 30th April 2023 32,568 3,335 389,110 425,013
NET BOOK VALUE
At 30th April 2023 369 - - 369
At 30th April 2022 1,087 91 383 1,561

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 8,967 9,465
Other debtors 30,378 33,113
39,345 42,578

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts (see note 9) 5,273 5,143
Trade creditors 14,671 19,950
Taxation and social security 1,587 562
Other creditors 152,221 144,017
173,752 169,672

B.G.S.PRODUCTIONS LIMITED (REGISTERED NUMBER: SC060598)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans (see note 9) 34,892 40,153

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 12,434 18,248

9. LOANS

An analysis of the maturity of loans is given below:

30.4.23 30.4.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 5,273 5,143

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,406 5,273

Amounts falling due between two and five years:
Bank loans - 2-5 years 17,052 16,632

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 12,434 18,248

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.23 30.4.22
value: £    £   
400 Ordinary £1 400 400
50 A Ordinary £1 50 50
50 B Ordinary £1 50 50
500 500

11. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £517 (2022- £517)

B.G.S.PRODUCTIONS LIMITED (REGISTERED NUMBER: SC060598)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023

12. RELATED PARTY DISCLOSURES

W B Garden and D B Stevenson are directors of Garson Investments Limited and own 51% and 49% of the share capital respectively.

The amount of £128,837 (2022: £118,837) owed to Garson Investments Limited is included in creditors. It bears no interest and has no fixed repayment terms.

13. ULTIMATE CONTROLLING PARTY

The company was under the control of W B Garden and D B Stevenson throughout the current and previous year.