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REGISTERED NUMBER: SC403898 (Scotland)









QUIPU TV LIMITED

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2023






QUIPU TV LIMITED (REGISTERED NUMBER: SC403898)






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




Page

Company Information 1

Report of the Directors 2

Chartered Certified Accountants' Report 3

Balance Sheet 4

Notes to the Financial Statements 6


QUIPU TV LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTORS: J H S McGill
M B Stanger
D McNeil





SECRETARY: T M Boyd





REGISTERED OFFICE: Clydesdale House
300 Springhill Parkway
Baillieston
Glasgow
G69 6GA





REGISTERED NUMBER: SC403898 (Scotland)





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

QUIPU TV LIMITED (REGISTERED NUMBER: SC403898)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30TH JUNE 2023

The directors present their report with the financial statements of the company for the year ended 30th June 2023.

REVIEW OF BUSINESS
During the year the company extended and enhanced the value of its long-term contract with the Scottish Professional Football League. It recovered much of its export income that had reduced during the Covid-19 pandemic. In addition, the company moved premises, investing heavily in new offices and equipment as part of its long-term contract with Scottish Football Association to provide Video Assistant Referee (VAR) technical facilities in the Scottish Premiership, as well as other additional plant and machinery for its growing remote production operations in England and abroad. As a result of the capital allowances claimed on these assets there is a provision for deferred tax included within the accounts of £455,522 which has resulted in a decrease in the reserves position on the balance sheet. The company had profits of £345,438 before tax for the year.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st July 2022 to the date of this report.

J H S McGill
M B Stanger
D McNeil

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





J H S McGill - Director


29th March 2024

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
QUIPU TV 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 Quipu TV Limited for the year ended 30th June 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 Quipu TV 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 Quipu TV Limited and state those matters that we have agreed to state to the Board of Directors of Quipu TV 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 Quipu TV 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 Quipu TV Limited. You consider that Quipu TV 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 Quipu TV 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


29th March 2024

QUIPU TV LIMITED (REGISTERED NUMBER: SC403898)

BALANCE SHEET
30TH JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 466 635
Tangible assets 5 4,222,362 3,034,275
4,222,828 3,034,910

CURRENT ASSETS
Debtors 6 1,788,412 662,866
Cash at bank 621,628 1,130,311
2,410,040 1,793,177
CREDITORS
Amounts falling due within one year 7 1,866,545 1,570,140
NET CURRENT ASSETS 543,495 223,037
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,766,323

3,257,947

CREDITORS
Amounts falling due after more than one
year

8

(3,307,950

)

(2,018,186

)

PROVISIONS FOR LIABILITIES (525,468 ) (69,946 )
NET ASSETS 932,905 1,169,815

CAPITAL AND RESERVES
Called up share capital 10 1,003 1,003
Share premium 374,764 374,764
Retained earnings 557,138 794,048
932,905 1,169,815

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

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

QUIPU TV LIMITED (REGISTERED NUMBER: SC403898)

BALANCE SHEET - continued
30TH JUNE 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 29th March 2024 and were signed on its behalf by:





J H S McGill - Director


QUIPU TV LIMITED (REGISTERED NUMBER: SC403898)

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

1. STATUTORY INFORMATION

Quipu TV 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.

Turnover
The turnover shown in the profit and loss account represents the sales value of work done during the year, exclusive of Value Added Tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 12.5% straight line
Plant and machinery - 10% on reducing balance and at varying rates straight line
Fixtures and fittings - 25% straight line
Motor vehicles - 100% on cost and 20% straight line

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.


QUIPU TV LIMITED (REGISTERED NUMBER: SC403898)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2022 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1st July 2022
and 30th June 2023 847
AMORTISATION
At 1st July 2022 212
Amortisation for year 169
At 30th June 2023 381
NET BOOK VALUE
At 30th June 2023 466
At 30th June 2022 635

QUIPU TV LIMITED (REGISTERED NUMBER: SC403898)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st July 2022 253,124 3,343,653 10,991 47,990 3,655,758
Additions 34,324 350,484 610,677 655,473 1,650,958
Disposals - - (650 ) - (650 )
At 30th June 2023 287,448 3,694,137 621,018 703,463 5,306,066
DEPRECIATION
At 1st July 2022 3,422 580,078 2,682 35,301 621,483
Charge for year 34,167 294,556 64,149 69,498 462,370
Eliminated on disposal - - (149 ) - (149 )
At 30th June 2023 37,589 874,634 66,682 104,799 1,083,704
NET BOOK VALUE
At 30th June 2023 249,859 2,819,503 554,336 598,664 4,222,362
At 30th June 2022 249,702 2,763,575 8,309 12,689 3,034,275

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st July 2022 2,260,313 46,990 2,307,303
Additions - 654,973 654,973
At 30th June 2023 2,260,313 701,963 2,962,276
DEPRECIATION
At 1st July 2022 389,651 34,634 424,285
Charge for year 178,724 68,665 247,389
At 30th June 2023 568,375 103,299 671,674
NET BOOK VALUE
At 30th June 2023 1,691,938 598,664 2,290,602
At 30th June 2022 1,870,662 12,356 1,883,018

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 618,750 505,706
Other debtors 1,169,662 157,160
1,788,412 662,866

QUIPU TV LIMITED (REGISTERED NUMBER: SC403898)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Hire purchase contracts and finance leases 905,101 418,427
Trade creditors 515,536 508,317
Taxation and social security 38,593 74,028
Other creditors 407,315 569,368
1,866,545 1,570,140

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Hire purchase contracts and finance leases 1,931,742 1,003,278
Other creditors 1,376,208 1,014,908
3,307,950 2,018,186

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5 years by instalments 262,630 193,902

9. LOANS

An analysis of the maturity of loans is given below:

30.6.23 30.6.22
£    £   
Amounts falling due within one year or on demand:
Other loans 155,368 178,155

Amounts falling due between one and two years:
Other loans - 1-2 years 187,038 149,935

Amounts falling due between two and five years:
Other loans - 2-5 years 586,260 347,459

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5 years by instalments 262,630 193,902

QUIPU TV LIMITED (REGISTERED NUMBER: SC403898)

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

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid

Number: Class: Nominal 30.06.23 30.06.22
value: £    £   

476 A Ordinary £1.00 476 476
116 B Ordinary £1.00 116 116
25 C Ordinary £1.00 25 25
150 E Ordinary £1.00 150 150
236 F Ordinary £1.00 236 236
1,003 1,003

11. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments all expiring later than one year and not later than ten years of £397,503 (2022: £113,020).

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

This loan was interest free and had no fixed repayment terms

13. ULTIMATE CONTROLLING PARTY

There was no ultimate controlling party throughout the current and previous year.