Edinburgh Short Film Festival Ltd SC458733 false 2022-10-01 2023-09-30 2023-09-30 The principal activity of the company is holding an annual short film festival. Digita Accounts Production Advanced 6.30.9574.0 true true SC458733 2022-10-01 2023-09-30 SC458733 2023-09-30 SC458733 core:CurrentFinancialInstruments 2023-09-30 SC458733 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 SC458733 core:PlantMachinery 2023-09-30 SC458733 bus:SmallEntities 2022-10-01 2023-09-30 SC458733 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 SC458733 bus:FullAccounts 2022-10-01 2023-09-30 SC458733 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 SC458733 bus:RegisteredOffice 2022-10-01 2023-09-30 SC458733 bus:Director1 2022-10-01 2023-09-30 SC458733 bus:CompanyLimitedByGuarantee 2022-10-01 2023-09-30 SC458733 core:PlantMachinery 2022-10-01 2023-09-30 SC458733 countries:Scotland 2022-10-01 2023-09-30 SC458733 2022-09-30 SC458733 core:PlantMachinery 2022-09-30 SC458733 2021-10-01 2022-09-30 SC458733 2022-09-30 SC458733 core:CurrentFinancialInstruments 2022-09-30 SC458733 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 SC458733 core:PlantMachinery 2022-09-30 iso4217:GBP xbrli:pure

Registration number: SC458733

Edinburgh Short Film Festival Ltd

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Edinburgh Short Film Festival Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Edinburgh Short Film Festival Ltd

Company Information

Director

Mr P Bruce

Registered office

16 Campie Road
Musselburgh
East Lothian
EH21 6QG

Accountants

Stewart & Cumming Ltd
31-33 Bridge Street
Musselburgh
Midlothian
EH21 6AA

 

Edinburgh Short Film Festival Ltd

(Registration number: SC458733)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

118

148

Current assets

 

Debtors

5

81

1,546

Cash at bank and in hand

 

76,820

76,450

 

76,901

77,996

Creditors: Amounts falling due within one year

6

(1,491)

(2,275)

Net current assets

 

75,410

75,721

Total assets less current liabilities

 

75,528

75,869

Provisions for liabilities

(22)

(28)

Net assets

 

75,506

75,841

Reserves

 

Retained earnings

75,506

75,841

Surplus

 

75,506

75,841

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 March 2024
 

.........................................
Mr P Bruce
Director

 

Edinburgh Short Film Festival Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a company limited by guarantee, incorporated in Scotland, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
16 Campie Road
Musselburgh
East Lothian
EH21 6QG

These financial statements were authorised for issue by the director on 28 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Edinburgh Short Film Festival Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Edinburgh Short Film Festival Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Edinburgh Short Film Festival Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 October 2022

704

704

At 30 September 2023

704

704

Depreciation

At 1 October 2022

556

556

Charge for the year

30

30

At 30 September 2023

586

586

Carrying amount

At 30 September 2023

118

118

At 30 September 2022

148

148

5

Debtors

Current

2023
£

2022
£

Prepayments

25

1,295

Other debtors

56

251

 

81

1,546

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

1,231

1,183

Other creditors

260

1,092

1,491

2,275

7

Related party transactions

 

Edinburgh Short Film Festival Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

13,500

12,375

Contributions paid to money purchase schemes

100

-

13,600

12,375