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Registered Number: 05824545
England and Wales

 

 

 


Unaudited Filleted Accounts

for the year ended 30 June 2024

for

ISEW LIMITED

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,727    2,303 
1,727    2,303 
Current assets      
Debtors 4 5,074    3,306 
Cash at bank and in hand 8,169    5,524 
13,243    8,830 
Creditors: amount falling due within one year 5 (11,076)   (8,463)
Net current assets 2,167    367 
 
Total assets less current liabilities 3,894    2,670 
Provisions for liabilities 6 (211)   (281)
Net assets 3,683    2,389 
 

Capital and reserves
     
Called up share capital 7 500    500 
Profit and loss account 3,183    1,889 
Shareholders' funds 3,683    2,389 
 


For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 12 November 2024 and were signed by:


-------------------------------
Mrs W A Gardiner
Director
1
General Information
ISEW Limited is a private company, limited by shares, registered in England and Wales, registration number 05824545, registration address 7 Lockerley Road, Havant, Hampshire, PO9 2HD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and Machinery 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation, and the amount of the obligation can be estimated reliably.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 July 2023 3,967    1,950    5,917 
Additions    
Disposals    
At 30 June 2024 3,967    1,950    5,917 
Depreciation
At 01 July 2023 2,487    1,127    3,614 
Charge for year 370    206    576 
On disposals    
At 30 June 2024 2,857    1,333    4,190 
Net book values
Closing balance as at 30 June 2024 1,110    617    1,727 
Opening balance as at 01 July 2023 1,480    823    2,303 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade debtors 4,750    3,230 
Other debtors 324    76 
5,074    3,306 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade creditors   1,399 
Taxation and social security costs 7,535    6,779 
Other creditors 3,541    285 
11,076    8,463 

6.

Provisions for liabilities

2024
£
  2023
£
Deferred tax 211    281 
211    281 

7.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
500 Ordinary shares of £1.00 each 500    500 
500    500 

2