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REGISTERED NUMBER: SC209671 (Scotland)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

Niche Optical Tailor Limited

Niche Optical Tailor Limited (Registered number: SC209671)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Niche Optical Tailor Limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: T Connelly
Mrs B Connelly





REGISTERED OFFICE: 1 Campbell Lane
Hamilton
ML3 6DB





REGISTERED NUMBER: SC209671 (Scotland)





ACCOUNTANTS: Smith Inglis & Tait
1 Campbell Lane
Hamilton
ML3 6DB

Niche Optical Tailor Limited (Registered number: SC209671)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,882 19,842

CURRENT ASSETS
Stocks 31,000 35,296
Debtors 5 2,775 (26 )
Cash at bank and in hand 26,792 3,965
60,567 39,235
CREDITORS
Amounts falling due within one year 6 61,809 54,765
NET CURRENT LIABILITIES (1,242 ) (15,530 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,640

4,312

CREDITORS
Amounts falling due after more than one year 7 12,739 1,468
NET ASSETS 901 2,844

CAPITAL AND RESERVES
Called up share capital 900 900
Retained earnings 1 1,944
901 2,844

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

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

Niche Optical Tailor Limited (Registered number: SC209671)

Balance Sheet - continued
31st March 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 27th March 2025 and were signed on its behalf by:





Mrs B Connelly - Director


Niche Optical Tailor Limited (Registered number: SC209671)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Niche Optical Tailor Limited 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.

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.

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

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 4 ) .

Niche Optical Tailor Limited (Registered number: SC209671)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023
and 31st March 2024 136,972
DEPRECIATION
At 1st April 2023 117,130
Charge for year 4,960
At 31st March 2024 122,090
NET BOOK VALUE
At 31st March 2024 14,882
At 31st March 2023 19,842

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 1,000 (26 )

Amounts falling due after more than one year:
Other debtors 1,775 -

Aggregate amounts 2,775 (26 )

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 -
Trade creditors 30,808 10,890
Taxation and social security 19,401 6,671
Other creditors 1,600 37,204
61,809 54,765

Niche Optical Tailor Limited (Registered number: SC209671)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,500 -
Hire purchase contracts 239 1,468
12,739 1,468