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Registered number: SC128199
Celtic Broadcasting Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Graeme Scott & Co
Chartered Accountants
1A Huntly Terrace
Inverness
IV3 5PS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC128199
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,741 8,842
6,741 8,842
CURRENT ASSETS
Debtors 5 63,825 57,776
Cash at bank and in hand 19,599 24,961
83,424 82,737
Creditors: Amounts Falling Due Within One Year 6 (30,029 ) (37,366 )
NET CURRENT ASSETS (LIABILITIES) 53,395 45,371
TOTAL ASSETS LESS CURRENT LIABILITIES 60,136 54,213
Creditors: Amounts Falling Due After More Than One Year 7 (7,790 ) (12,711 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,281 ) (1,769 )
NET ASSETS 51,065 39,733
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 50,965 39,633
SHAREHOLDERS' FUNDS 51,065 39,733
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For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Garry Grant
Director
31/08/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Celtic Broadcasting Limited is a private company, limited by shares, incorporated in Scotland, registered number SC128199 . The registered office is 18 Fairfield Road, Inverness, IV3 5QA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with the FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, Section 1A Small Entities, issued by the Financial Reporting Council. They are presented in £ sterling, which is the company's functional currency.

The financial statements are prepared under the historical cost convention.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Sale of services
Turnover from the rendering of services is recognised as those services are provided to customers.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33.33% reducing balance basis
Motor Vehicles 25% reducing balance basis
Fixtures & Fittings 25% reducing balance basis
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and are depreciated over their useful lives. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Profit and Loss Account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Work in progress is valued at the lower of cost and net realisable value. The cost of work in progress includes all production costs and overheads. Net realisable value is based on estimated selling price less estimated cost of disposal. Work in progress is provided in the accounts in respect of costs incurred at balance sheet date relating to un-invoiced work, contracted or commissioned. Production costs relating to speculative filming (including non contracted 'pilot film' work) are written off to the period in which they are incurred.


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2.6. Financial Instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors and bank loans to the company.

Trade debtors and trade creditors are measured at the undiscounted amounts receivable from a customer or payable to a supplier, which is normally the invoice price.

Loans received from a bank at a market rate of interest are recognised at the amount of cash received from the bank, less seperately incurred transaction costs.

Directors' loans to the company, which are repayable on demand are measured at the undiscounted amount of the cash expected to be paid.

Trade debtors are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the profit or loss account.
2.7. Foreign Currencies
Monetary assets and liabilities denominated in foreign currencies (other than the functional currency of the company, which is sterling) are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All exchange differences are taken to the Profit and Loss account.
2.8. Taxation
Taxation represents the sum of tax currently payable and deferred tax.
The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.10. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 November 2022 70,206 13,032 7,537 90,775
Additions 2,060 - 1,284 3,344
Disposals (47,788 ) - - (47,788 )
As at 31 October 2023 24,478 13,032 8,821 46,331
...CONTINUED
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Depreciation
As at 1 November 2022 61,653 12,799 7,481 81,933
Provided during the period 2,776 58 335 3,169
Disposals (45,512 ) - - (45,512 )
As at 31 October 2023 18,917 12,857 7,816 39,590
Net Book Value
As at 31 October 2023 5,561 175 1,005 6,741
As at 1 November 2022 8,553 233 56 8,842
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 33,306 34,661
Prepayments and accrued income - 476
Other debtors 1,792 1,613
Corporation tax recoverable assets 9,812 9,812
Other taxes and social security 313 -
Director's loan account 18,602 11,214
63,825 57,776
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 3,160 3,011
Bank loans and overdrafts 4,920 4,920
Corporation tax 6,861 13,650
Other taxes and social security - 484
VAT 8,234 8,316
Net wages 646 646
Other creditors 8 139
Other creditors (owing to executors of former Director) 6,200 -
Director's loan account - 6,200
30,029 37,366
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 7,790 12,711
8. Secured Creditors
Secured bank loans and overdrafts include a bounceback loan of £12,710 (2022 £17,631). This loan is secured by way of government guarantee, attracts interest at 2.5% and is repayable over 6 years, from May 2020, with the first year interest free). The totals below include all creditors falling due within and after one year
2023 2022
£ £
Bank loans and overdrafts 12,710 17,631
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9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 November 2022 1,769 1,769
Reversals (488 ) (488)
Balance at 31 October 2023 1,281 1,281
The provision for deferred taxation is made up of accelerated capital allowances.
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
11. Pension Commitments
The company operates a defined contribution pension scheme for senior staff. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £8 (PY £139) were due to the fund. They are included in Other Creditors.
12. Directors Advances, Credits and Guarantees
Included within Debtors is the following loan to a director:
As at 1 November 2022 Amounts advanced Amounts repaid Amounts written off As at 31 October 2023
£ £ £ £ £
Mr Garry Grant 11,214 7,388 - - 18,602
The above loan balance is classified as Debtors and is repayable on demand. Interest was charged during the year at market rates of interest. 
13. Related Party Transactions
At 31 October 2023, the company owed £6,200 to the executors of the former director, Mr John Grant (deceased 15 June 2022). No interest has been charged to the company in respect of this balance, which is payable on demand and classified in Creditors due within one year.
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