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REGISTERED NUMBER: SC639085 (Scotland)




















Istac Limited

Unaudited Financial Statements

for the Year Ended 31 August 2022






Istac Limited (Registered number: SC639085)






Contents of the Financial Statements
for the Year Ended 31 August 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Istac Limited

Company Information
for the Year Ended 31 August 2022







DIRECTOR: Mr P G Pozzi



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
EH3 6AT



REGISTERED NUMBER: SC639085 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Revolut
9th Floor 107 Cheapside
London
EC2V 6DN

Istac Limited (Registered number: SC639085)

Balance Sheet
31 August 2022

2022 2021
Notes £    £   
CURRENT ASSETS
Debtors 4 3,840 5,181
Cash at bank 1,651 508
5,491 5,689
CREDITORS
Amounts falling due within one year 5 5,343 7,598
NET CURRENT ASSETS/(LIABILITIES) 148 (1,909 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

148

(1,909

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 48 (2,009 )
148 (1,909 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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.

Istac Limited (Registered number: SC639085)

Balance Sheet - continued
31 August 2022


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 director and authorised for issue on 7 November 2023 and were signed by:





Mr P G Pozzi - Director


Istac Limited (Registered number: SC639085)

Notes to the Financial Statements
for the Year Ended 31 August 2022

1. STATUTORY INFORMATION

Istac 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 and revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales.
Turnover represents invoiced marketing services and revenue is recognised on completion of service.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

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.

Istac Limited (Registered number: SC639085)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2022

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors - 1,286
Other debtors 3,840 3,895
3,840 5,181

No interest was charged on the outstanding balance due from the director.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Taxation and social security 1,127 1,883
Other creditors 4,216 5,715
5,343 7,598

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2022 and 31 August 2021:

2022 2021
£    £   
Mr P G Pozzi
Balance outstanding at start of year 2,566 2,373
Amounts advanced 23,783 6,381
Amounts repaid (23,838 ) (6,188 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,511 2,566