Company registration number 06173275 (England and Wales)
ISEEPR LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
ISEEPR LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
ISEEPR LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
320
360
Tangible assets
5
119,733
102,544
Investments
6
100
100
120,153
103,004
Current assets
Stocks
531
10,376
Debtors
7
169,343
183,983
Cash at bank and in hand
828,149
1,684,054
998,023
1,878,413
Creditors: amounts falling due within one year
8
(384,652)
(427,084)
Net current assets
613,371
1,451,329
Net assets
733,524
1,554,333
Capital and reserves
Called up share capital
90
100
Capital redemption reserve
10
Profit and loss reserves
733,424
1,554,233
Total equity
733,524
1,554,333
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 9 September 2024
Mrs L Kaufman
Director
Company registration number 06173275 (England and Wales)
ISEEPR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
iseepr Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 The Boulevard, Leeds, LS10 1PZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
1.2
Going concern
The financial statements have been prepared on the basis that the company can continue to operate as a going concern.
The director, having made due and careful enquiry, is of the opinion that the company has adequate working capital to execute its operations over the next 12 months. This conclusion was made having considered the current economic climate and the strong performance of the company over the last few years. The director, therefore, has made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to continue in in operational existence for the foreseeable future.
1.3
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
1.4
Intangible fixed assets - goodwill
Goodwill is carried at cost less accumulated amortisation and impairment losses.
1.5
Intangible fixed assets other than goodwill
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Patents & licences
amortised over 10 years
1.6
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication of impairment. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
ISEEPR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Depreciation is recognised so as to write off the cost or valuation of assets, less their residual values, over their useful lives on the following bases:
Leasehold improvements
20% straight line and expected life of lease
Fixtures, fittings and equipment
15% / 33% straight line and 15% reducing balance
Motor vehicles
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.7
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
1.8
Stocks
Work in progress is valued on the basis of direct costs. Provision is made for any foreseeable losses where appropriate.
1.9
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual
provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
1.10
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Current tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
ISEEPR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including the director) employed by the company during the year was:
2024
2023
Number
Number
Total
24
26
4
Intangible fixed assets
Goodwill
Patents & licences
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
33,500
400
33,900
Amortisation and impairment
At 1 April 2023
33,500
40
33,540
Amortisation charged for the year
40
40
At 31 March 2024
33,500
80
33,580
Carrying amount
At 31 March 2024
320
320
At 31 March 2023
360
360
ISEEPR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Tangible fixed assets
Leasehold improvements
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
62,523
110,105
49,000
221,628
Additions
4,900
4,560
44,989
54,449
Disposals
(49,000)
(49,000)
At 31 March 2024
67,423
114,665
44,989
227,077
Depreciation and impairment
At 1 April 2023
1,060
69,024
49,000
119,084
Depreciation charged in the year
13,070
19,504
4,686
37,260
Eliminated in respect of disposals
(49,000)
(49,000)
At 31 March 2024
14,130
88,528
4,686
107,344
Carrying amount
At 31 March 2024
53,293
26,137
40,303
119,733
At 31 March 2023
61,463
41,081
102,544
6
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100
100
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
126,208
130,156
Other debtors
43,135
53,827
169,343
183,983
ISEEPR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
8
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
26,367
44,668
Amounts owed to group undertakings
100
100
Corporation tax
134,000
127,600
Other taxation and social security
32,270
29,128
Other creditors
191,915
225,588
384,652
427,084
9
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
345,288
435,363