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REGISTERED NUMBER: SC683938 (Scotland)















Unaudited Financial Statements

for the Period 17th December 2020 to 31st December 2021

for

GoggleTechnology Limited

GoggleTechnology Limited (Registered number: SC683938)






Contents of the Financial Statements
for the Period 17th December 2020 to 31st December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


GoggleTechnology Limited

Company Information
for the Period 17th December 2020 to 31st December 2021







DIRECTOR: N Dessimone





REGISTERED OFFICE: Bealach Na Ba
Glasgow Road
Lockerbie
DUMFRIESSHIRE
DG11 3AU





REGISTERED NUMBER: SC683938 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

GoggleTechnology Limited (Registered number: SC683938)

Balance Sheet
31st December 2021

Notes £   
FIXED ASSETS
Intangible assets 4 4,470

CURRENT ASSETS
Stocks 2,750
Cash at bank 2,661
5,411
CREDITORS
Amounts falling due within one year 5 (22,469 )
NET CURRENT LIABILITIES (17,058 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(12,588

)

CAPITAL AND RESERVES
Called up share capital 1
Retained earnings (12,589 )
SHAREHOLDERS' FUNDS (12,588 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13th September 2022 and were signed by:





N Dessimone - Director


GoggleTechnology Limited (Registered number: SC683938)

Notes to the Financial Statements
for the Period 17th December 2020 to 31st December 2021

1. STATUTORY INFORMATION

GoggleTechnology 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents net invoiced sale from the provision of protective lenses and coatings for goggles, excluding 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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

GoggleTechnology Limited (Registered number: SC683938)

Notes to the Financial Statements - continued
for the Period 17th December 2020 to 31st December 2021

2. ACCOUNTING POLICIES - continued

Financial instruments
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.

Trade debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

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.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 4,966
At 31st December 2021 4,966
AMORTISATION
Charge for period 496
At 31st December 2021 496
NET BOOK VALUE
At 31st December 2021 4,470

GoggleTechnology Limited (Registered number: SC683938)

Notes to the Financial Statements - continued
for the Period 17th December 2020 to 31st December 2021

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Taxation and social security 1
Other creditors 22,468
22,469

6. RELATED PARTY DISCLOSURES

The company operates a director's current account with the director. The amount owed by the company to the director at the 31st December 2021 was £21,988. This sum is interest free and repayable on demand.