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REGISTERED NUMBER: SC589769 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 July 2024

for

First Sight (Renfrew) Limited

First Sight (Renfrew) Limited (Registered number: SC589769)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


First Sight (Renfrew) Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: G MacEwen





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





REGISTERED NUMBER: SC589769 (Scotland)





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

First Sight (Renfrew) Limited (Registered number: SC589769)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 4,000 5,000
Tangible assets 5 50,455 89,129
54,455 94,129

CURRENT ASSETS
Stocks 9,500 4,700
Debtors 6 91,919 9,289
Cash at bank and in hand 69,998 67,390
171,417 81,379
CREDITORS
Amounts falling due within one year 7 72,757 65,467
NET CURRENT ASSETS 98,660 15,912
TOTAL ASSETS LESS CURRENT
LIABILITIES

153,115

110,041

CREDITORS
Amounts falling due after more than one year 8 (74,676 ) (56,219 )

PROVISIONS FOR LIABILITIES (12,614 ) (16,935 )
NET ASSETS 65,825 36,887

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 65,725 36,787
65,825 36,887

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

First Sight (Renfrew) Limited (Registered number: SC589769)

Balance Sheet - continued
31 July 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 director and authorised for issue on 6 August 2024 and were signed by:





G MacEwen - Director


First Sight (Renfrew) Limited (Registered number: SC589769)

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

1. STATUTORY INFORMATION

First Sight (Renfrew) 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.

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 2018, is being amortised evenly over its estimated useful life of ten 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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on cost

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.


First Sight (Renfrew) Limited (Registered number: SC589769)

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

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 10,000
AMORTISATION
At 1 August 2023 5,000
Charge for year 1,000
At 31 July 2024 6,000
NET BOOK VALUE
At 31 July 2024 4,000
At 31 July 2023 5,000

First Sight (Renfrew) Limited (Registered number: SC589769)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 144,506
Additions 58,030
Disposals (85,022 )
At 31 July 2024 117,514
DEPRECIATION
At 1 August 2023 55,377
Charge for year 11,682
At 31 July 2024 67,059
NET BOOK VALUE
At 31 July 2024 50,455
At 31 July 2023 89,129

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 6,954 6,942
Amounts due by parent company 62,960 -
Amounts due by group company 18,442 -
VAT 2,163 -
Prepayments and accrued income 1,400 2,347
91,919 9,289

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 15,000 5,000
Hire purchase contracts and finance leases 7,092 14,233
Trade creditors 7,413 7,535
Corporation tax 33,123 7,613
Social security and other taxes 924 1,204
VAT - 574
Other creditors - 25,022
Accrued expenses 9,205 4,286
72,757 65,467

First Sight (Renfrew) Limited (Registered number: SC589769)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans - 1-2 years 12,520 5,000
Bank loans - 2-5 years 22,105 3,219
Hire purchase contracts and finance leases 40,051 48,000
74,676 56,219

9. ULTIMATE CONTROLLING PARTY

At the year end date the Director was the ultimate controlling party of the Company.