IRIS Accounts Production v24.3.2.46 SC316893 Board of Directors Board of Directors 1.5.23 30.4.24 30.4.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3168932023-04-30SC3168932024-04-30SC3168932023-05-012024-04-30SC3168932022-04-30SC3168932022-05-012023-04-30SC3168932023-04-30SC316893ns15:Scotland2023-05-012024-04-30SC316893ns14:PoundSterling2023-05-012024-04-30SC316893ns10:Director12023-05-012024-04-30SC316893ns10:Director22023-05-012024-04-30SC316893ns10:PrivateLimitedCompanyLtd2023-05-012024-04-30SC316893ns10:SmallEntities2023-05-012024-04-30SC316893ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-30SC316893ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-30SC316893ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-30SC316893ns10:FullAccounts2023-05-012024-04-30SC31689312023-05-012024-04-30SC316893ns10:RegisteredOffice2023-05-012024-04-30SC316893ns5:CurrentFinancialInstruments2024-04-30SC316893ns5:CurrentFinancialInstruments2023-04-30SC316893ns5:Non-currentFinancialInstruments2024-04-30SC316893ns5:Non-currentFinancialInstruments2023-04-30SC316893ns5:ShareCapital2024-04-30SC316893ns5:ShareCapital2023-04-30SC316893ns5:RetainedEarningsAccumulatedLosses2024-04-30SC316893ns5:RetainedEarningsAccumulatedLosses2023-04-30SC316893ns5:NetGoodwill2023-05-012024-04-30SC316893ns5:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-30SC316893ns5:PlantMachinery2023-05-012024-04-30SC316893ns5:NetGoodwill2023-04-30SC316893ns5:NetGoodwill2024-04-30SC316893ns5:NetGoodwill2023-04-30SC316893ns5:PlantMachinery2023-04-30SC316893ns5:PlantMachinery2024-04-30SC316893ns5:PlantMachinery2023-04-30SC316893ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-30SC316893ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-30SC316893ns10:Director222023-04-30SC316893ns10:Director222022-04-30SC316893ns10:Director222023-05-012024-04-30SC316893ns10:Director222022-05-012023-04-30SC316893ns10:Director222024-04-30SC316893ns10:Director222023-04-30SC3168931ns10:Director12023-04-30SC3168931ns10:Director12022-04-30SC3168931ns10:Director12023-05-012024-04-30SC3168931ns10:Director12022-05-012023-04-30SC3168931ns10:Director12024-04-30SC3168931ns10:Director12023-04-30
REGISTERED NUMBER: SC316893 (Scotland)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Isle Optical Ltd.

Isle Optical Ltd. (Registered number: SC316893)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Isle Optical Ltd.

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mrs P MacEwen
N C MacEwen





REGISTERED OFFICE: Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU





REGISTERED NUMBER: SC316893 (Scotland)





ACCOUNTANTS: Gerber Landa & Gee
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU

Isle Optical Ltd. (Registered number: SC316893)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 29,423 39,423
Tangible assets 5 56,165 52,487
85,588 91,910

CURRENT ASSETS
Stocks 16,765 18,565
Debtors 6 222,857 128,269
Cash at bank 407,065 347,975
646,687 494,809
CREDITORS
Amounts falling due within one year 7 104,798 98,057
NET CURRENT ASSETS 541,889 396,752
TOTAL ASSETS LESS CURRENT
LIABILITIES

627,477

488,662

CREDITORS
Amounts falling due after more than one
year

8

(18,017

)

(444

)

PROVISIONS FOR LIABILITIES (10,799 ) (9,519 )
NET ASSETS 598,661 478,699

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 598,659 478,697
598,661 478,699

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Isle Optical Ltd. (Registered number: SC316893)

Balance Sheet - continued
30 April 2024


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 Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by:




Mrs P MacEwen - Director



N C MacEwen - Director


Isle Optical Ltd. (Registered number: SC316893)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Isle Optical Ltd. 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost, 15% on reducing balance, 10% on reducing balance and Straight line over 3 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 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.

Isle Optical Ltd. (Registered number: SC316893)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 200,000
AMORTISATION
At 1 May 2023 160,577
Charge for year 10,000
At 30 April 2024 170,577
NET BOOK VALUE
At 30 April 2024 29,423
At 30 April 2023 39,423

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 183,711
Additions 27,025
At 30 April 2024 210,736
DEPRECIATION
At 1 May 2023 131,224
Charge for year 23,347
At 30 April 2024 154,571
NET BOOK VALUE
At 30 April 2024 56,165
At 30 April 2023 52,487

Isle Optical Ltd. (Registered number: SC316893)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 35,348 29,539
Other debtors 125,153 89,153
Directors' current accounts 60,590 8,045
Prepayments and accrued income 1,766 1,532
222,857 128,269

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Finance leases 7,201 5,333
Trade creditors 20,488 40,046
Tax 49,897 28,648
Social security and other taxes 5,279 5,427
VAT 1,644 548
Accrued expenses 20,289 18,055
104,798 98,057

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Finance leases 18,017 444

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

30.4.24 30.4.23
£    £   
N C MacEwen
Balance outstanding at start of year 4,023 -
Amounts advanced 30,322 4,023
Amounts repaid (4,050 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 30,295 4,023

Mrs P MacEwen
Balance outstanding at start of year 4,022 -
Amounts advanced 30,323 4,022
Amounts repaid (4,050 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 30,295 4,022

The loans to the Director are interest free and were repaid in full in January 2025.