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REGISTERED NUMBER: 00455743 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

ISAAC LORD LIMITED

ISAAC LORD LIMITED (REGISTERED NUMBER: 00455743)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


ISAAC LORD LIMITED (REGISTERED NUMBER: 00455743)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 43,509 58,426
Tangible assets 5 192,278 245,368
Investments 6 2,550 2,550
238,337 306,344

CURRENT ASSETS
Stocks 810,766 1,019,447
Debtors 7 291,120 247,950
Cash at bank and in hand 590,062 423,260
1,691,948 1,690,657
CREDITORS
Amounts falling due within one year 8 436,044 597,796
NET CURRENT ASSETS 1,255,904 1,092,861
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,494,241

1,399,205

PROVISIONS FOR LIABILITIES 53,000 48,000
NET ASSETS 1,441,241 1,351,205

CAPITAL AND RESERVES
Called up share capital 75,050 75,050
Capital redemption reserve 62,950 62,950
Retained earnings 1,303,241 1,213,205
SHAREHOLDERS' FUNDS 1,441,241 1,351,205

ISAAC LORD LIMITED (REGISTERED NUMBER: 00455743)

BALANCE SHEET - continued
30 JUNE 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 August 2024 and were signed by:





A J M Cripwell - Director


ISAAC LORD LIMITED (REGISTERED NUMBER: 00455743)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Isaac Lord Limited is a private company limited by shares and incorporated in England, its registered number 00455743. Its registered office is West End Court, Suffield Road, High Wycombe, Buckinghamshire, HP11 2JY.

The financial statements are presented is Sterling, which is the functional currency of the company.

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.

Significant judgements and estimates
The company makes estimates and assumptions concerning the future.The directors are also required to exercise judgement in the process of applying the company's accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

In preparing these financial statements the directors have made the following judgements:

Recoverability of trade debtors
Trade and other debtors are recognised to the extent that they are judged recoverable. The directors review is performed to estimate the level of reserves required for irrecoverable debt. Provisions are made specifically against invoices where recoverability is uncertain.

The directors also make allowances for doubtful debts based on an assessment of the recoverability of debtors. Allowances are applied to debtors where events or changes in circumstances indicate that the carrying amounts may not be recoverable. The directors specifically analyse historical bad debts, customer creditworthiness, current economic trends and changes in customer payment terms when making a judgement to evaluate the adequacy of the provision for doubtful debts. Where the expectation is different from the original estimate, such differences will impact the carrying value of debtors and the charge in the statement of income and retained earnings.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost and 20% on cost

ISAAC LORD LIMITED (REGISTERED NUMBER: 00455743)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Stocks
Goods for resale are valued at the lower of cost and net realisable value as follows:

Purchase cost on a weighted average cost basis.

Provisions are included based on assumptions around the anticipated saleability of older stock.

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.

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.

Investments
Fixed asset investments are stated at cost less provision for diminution in value.

Going concern
At the rime of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and have therefore prepared the financial statements on a going concern basis.

Financial instruments
Basic financial liabilities, including trade and other debtors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 16 ) .

ISAAC LORD LIMITED (REGISTERED NUMBER: 00455743)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023
and 30 June 2024 74,587
AMORTISATION
At 1 July 2023 16,161
Charge for year 14,917
At 30 June 2024 31,078
NET BOOK VALUE
At 30 June 2024 43,509
At 30 June 2023 58,426

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 1,136,144
Additions 7,354
Disposals (56,732 )
At 30 June 2024 1,086,766
DEPRECIATION
At 1 July 2023 890,776
Charge for year 45,727
Eliminated on disposal (42,015 )
At 30 June 2024 894,488
NET BOOK VALUE
At 30 June 2024 192,278
At 30 June 2023 245,368

ISAAC LORD LIMITED (REGISTERED NUMBER: 00455743)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023
and 30 June 2024 2,550
NET BOOK VALUE
At 30 June 2024 2,550
At 30 June 2023 2,550

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 200,289 223,155
Other debtors 90,831 24,795
291,120 247,950

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts - 2
Trade creditors 280,206 437,280
Taxation and social security 85,787 112,215
Other creditors 70,051 48,299
436,044 597,796

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.24 30.6.23
£    £   
Within one year 35,000 140,000
Between one and five years - 35,000
35,000 175,000

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Victoria Brassington BA FCA (Senior Statutory Auditor)
for and on behalf of Blackthorns

ISAAC LORD LIMITED (REGISTERED NUMBER: 00455743)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


11. CONTINGENT LIABILITIES

The company's bankers hold a multilateral guarantee between this company and Jamberoo Limited. At the balance sheet date the liability under this guarantee amounted to £Nil (2023 - £1,953).

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13. ULTIMATE PARENT COMPANY

Until 12 March 2024 Jamberoo Limited was the ultimate parent company. On 12 March 2024 Jamberoo Limited became a 100% subsidiary of Polventon Limited, a company registered in England and Wales, which then became the ultimate parent company of Isaac Lord Limited. Polventon Limited is owned by A J M Cripwell and his family.