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REGISTERED NUMBER: 00268515 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Isa-Lea Limited

Isa-Lea Limited (Registered number: 00268515)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Isa-Lea Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: I P Kerry
M J Kerry





REGISTERED OFFICE: 64-66 Outram Street
Sutton in Ashfield
Nottinghamshire
NG17 4FS





BUSINESS ADDRESS: Robinswood Road
Aspley
Nottingham
Nottinghamshire
NG8 3LE





REGISTERED NUMBER: 00268515 (England and Wales)





ACCOUNTANTS: D. K. Rumsby & Co Limited
3 Colwick Quays
Colwick
Nottingham
Nottinghamshire
NG4 2JY

Isa-Lea Limited (Registered number: 00268515)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,030,756 2,299,017
Investments 6 204,642 204,642
Investment property 7 603,000 603,000
2,838,398 3,106,659

CURRENT ASSETS
Stocks 115,687 113,925
Debtors 8 1,176,771 1,170,062
Cash at bank and in hand 117,962 97,883
1,410,420 1,381,870
CREDITORS
Amounts falling due within one year 9 (936,695 ) (1,119,169 )
NET CURRENT ASSETS 473,725 262,701
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,312,123

3,369,360

CREDITORS
Amounts falling due after more than one
year

10

(444,572

)

(604,094

)

PROVISIONS FOR LIABILITIES (349,929 ) (265,806 )
NET ASSETS 2,517,622 2,499,460

Isa-Lea Limited (Registered number: 00268515)

Balance Sheet - continued
31 May 2024

31.5.24 31.5.23
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 12 800 800
Capital redemption reserve 200 200
Non distributable reserve 112,555 112,555
Retained earnings 2,404,067 2,385,905
SHAREHOLDERS' FUNDS 2,517,622 2,499,460

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

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

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 Board of Directors and authorised for issue on 12 December 2024 and were signed on its behalf by:





I P Kerry - Director


Isa-Lea Limited (Registered number: 00268515)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Isa-Lea Limited is a private company, limited by shares , registered in England and Wales. 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.

Preparation of consolidated financial statements
The financial statements contain information about Isa-Lea Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover, which excludes value added tax, represents the invoiced value of goods and services provided and the work executed on contract business.

Intangible assets - goodwill
Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful life. The period chosen for writing off goodwill is three years. Provision is made for any impairment.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Freehold buildings- 2% on straight line basis
Leasehold property improvements- 25% on reducing balance basis
Plant and machinery- 15% on reducing balance basis
Fixtures and fittings- 25% on reducing balance basis
Motor vehicles- 25% on reducing balance basis
Equipment for rental- 20% and 25% on straight line basis

No depreciation is provided on freehold land.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment properties are measured at fair value at each reporting date with changes in fair value recognised through total comprehensive income.

The fair value is ascertained by consideration of market evidence for similar properties in the same location and condition.

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


Isa-Lea Limited (Registered number: 00268515)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year 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 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.

Pension costs and other post-retirement benefits
The company operates defined contribution schemes for the director and employees. The assets of the schemes are managed and held separately from those of the company. Contributions to the schemes are charged against revenue in the year in which they are payable.

Non distributable reserve
The non distributable reserve consists of the fair value adjustment to investment properties net of deferred tax provision on any potential gains.

Operating leases
i) As lessor
Assets on rental and service contracts are capitalised and depreciated. Rentals receivable are credited to the profit and loss account over the lease term, on a straight line basis from the date of inception. Amounts received in advance are shown as deferred income.

ii) As lessee
Lease payments are charged to the profit and loss account on a straight line basis over the lease term.

Finance leases
Leasing agreements (including equivalent hire purchase or finance agreements) which transfer substantially all the benefits and risks of ownership of an asset are treated as if the asset had been purchased outright. The asset is included in fixed assets and the capital element of the leasing commitments shown within the balance sheet as a liability. The lease rentals are treated as consisting of capital and interest elements. The capital element is applied to reduce the outstanding obligations and the interest element is charged against profit in proportion to the reducing capital outstanding. Assets held under finance leases are depreciated over the useful economic lives of the equivalent owned assets, or period of lease if shorter.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2023 - 45 ) .

Isa-Lea Limited (Registered number: 00268515)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 52,425
AMORTISATION
At 1 June 2023
and 31 May 2024 52,425
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 626,825 4,988,327 5,615,152
Additions - 310,966 310,966
Disposals - (426,868 ) (426,868 )
At 31 May 2024 626,825 4,872,425 5,499,250
DEPRECIATION
At 1 June 2023 57,143 3,258,992 3,316,135
Charge for year 12,482 527,592 540,074
Eliminated on disposal - (387,715 ) (387,715 )
At 31 May 2024 69,625 3,398,869 3,468,494
NET BOOK VALUE
At 31 May 2024 557,200 1,473,556 2,030,756
At 31 May 2023 569,682 1,729,335 2,299,017

Included in cost of land and buildings is freehold land of £ 2,692 (2023 - £ 2,692 ) which is not depreciated.

Isa-Lea Limited (Registered number: 00268515)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023 260,378
Disposals (39,000 )
At 31 May 2024 221,378
DEPRECIATION
At 1 June 2023 58,511
Charge for year 38,421
Eliminated on disposal (6,264 )
At 31 May 2024 90,668
NET BOOK VALUE
At 31 May 2024 130,710
At 31 May 2023 201,867

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2023
and 31 May 2024 204,642
NET BOOK VALUE
At 31 May 2024 204,642
At 31 May 2023 204,642

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Servisure Limited
Registered office: 64-66 Outram Street, Sutton in Ashfield, Nottinghamshire, NG17 4FS
Nature of business: Renting out of washroom equipment and workwear
%
Class of shares: holding
Ordinary 100.00
31.5.24 31.5.23
£    £   
Aggregate capital and reserves 151,034 180,194
Loss for the year (29,160 ) (108,121 )

Isa-Lea Limited (Registered number: 00268515)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. FIXED ASSET INVESTMENTS - continued

Coloured Linen Hire Limited
Registered office: 64-66 Outram Street, Sutton in Ashfield, Nottinghamshire, NG17 4FS
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
31.5.24 31.5.23
£    £   
Aggregate capital and reserves 100 100

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 603,000
NET BOOK VALUE
At 31 May 2024 603,000
At 31 May 2023 603,000

The investment properties were valued on a fair value basis on 31 May 2024 by the directors.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 712,312 775,514
Amounts owed by group undertakings 332,121 288,350
Other debtors 132,338 106,198
1,176,771 1,170,062

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 49,362 67,747
Hire purchase contracts 70,326 82,151
Trade creditors 357,768 367,988
Taxation and social security 120,353 150,672
Other creditors 338,886 450,611
936,695 1,119,169

Isa-Lea Limited (Registered number: 00268515)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 432,750 532,136
Hire purchase contracts 11,822 71,958
444,572 604,094

Amounts falling due in more than five years:

Repayable by instalments
Bank loans after 5 years 343,191 397,162

11. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 482,112 599,883
Invoice financing facility 268,010 391,692
Hire purchase contracts 82,148 154,109
832,270 1,145,684

The bank borrowing is secured by a debenture from Isa-Lea Limited over all of its assets and undertaking and legal charges over certain of the company's freehold properties

The invoice financing facility is provided by RBS Invoice Finance Limited and is secured on the trade debtors of Isa-Lea Limited.

Obligations under hire purchase contracts are secured on the assets concerned.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
800 Ordinary £1 800 800