Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-312024-07-312025-05-0172023-08-01falseNo description of principal activity4falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07410768 2023-08-01 2024-07-31 07410768 2022-08-01 2023-07-31 07410768 2024-07-31 07410768 2023-07-31 07410768 c:Director3 2023-08-01 2024-07-31 07410768 d:FurnitureFittings 2023-08-01 2024-07-31 07410768 d:FurnitureFittings 2024-07-31 07410768 d:FurnitureFittings 2023-07-31 07410768 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 07410768 d:ComputerEquipment 2023-08-01 2024-07-31 07410768 d:ComputerEquipment 2024-07-31 07410768 d:ComputerEquipment 2023-07-31 07410768 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 07410768 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 07410768 d:ComputerSoftware 2024-07-31 07410768 d:ComputerSoftware 2023-07-31 07410768 d:CurrentFinancialInstruments 2024-07-31 07410768 d:CurrentFinancialInstruments 2023-07-31 07410768 d:Non-currentFinancialInstruments 2024-07-31 07410768 d:Non-currentFinancialInstruments 2023-07-31 07410768 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 07410768 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 07410768 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 07410768 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 07410768 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-07-31 07410768 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-31 07410768 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-07-31 07410768 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 07410768 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-07-31 07410768 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-07-31 07410768 d:ShareCapital 2024-07-31 07410768 d:ShareCapital 2023-07-31 07410768 d:SharePremium 2024-07-31 07410768 d:SharePremium 2023-07-31 07410768 d:RetainedEarningsAccumulatedLosses 2024-07-31 07410768 d:RetainedEarningsAccumulatedLosses 2023-07-31 07410768 c:FRS102 2023-08-01 2024-07-31 07410768 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 07410768 c:FullAccounts 2023-08-01 2024-07-31 07410768 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 07410768 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-08-01 2024-07-31 07410768 d:ComputerSoftware d:OwnedIntangibleAssets 2023-08-01 2024-07-31 07410768 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure
Registered number: 07410768








IRIS VISIONCARE LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024



 















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IRIS VISIONCARE LIMITED
REGISTERED NUMBER:07410768

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
22,524
29,173

Tangible assets
 5 
619
823

  
23,143
29,996

Current assets
  

Debtors: amounts falling due within one year
 6 
658
195

Cash at bank and in hand
  
988
21,122

  
1,646
21,317

Creditors: amounts falling due within one year
 7 
(175,071)
(168,195)

Net current liabilities
  
 
 
(173,425)
 
 
(146,878)

Total assets less current liabilities
  
(150,282)
(116,882)

Creditors: amounts falling due after more than one year
 8 
(162,628)
(165,895)

  

Net liabilities
  
(312,910)
(282,777)


Capital and reserves
  

Called up share capital 
  
108
108

Share premium account
  
4,997
4,997

Profit and loss account
  
(318,015)
(287,882)

  
(312,910)
(282,777)


Page 1

 
IRIS VISIONCARE LIMITED
REGISTERED NUMBER:07410768
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 May 2025.




P Noakes
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
IRIS VISIONCARE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Iris Visioncare Limited is a private company, limited by shares, domiciled in England and Wales. The registered office address is Iris House, 71 Ridgeway, Plymouth, England, PL7 2AL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Director's have considered the financial position of the company and notes that the company is in a net liability position. The company has the full support of the Directors and their companies so is therefore considered to be a going concern. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
IRIS VISIONCARE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
reducing balance
Computer equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
IRIS VISIONCARE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
 
Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Page 5

 
IRIS VISIONCARE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)


Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 7).


4.


Intangible assets




Computer software

£



Cost


At 1 August 2023
66,841


Additions
8,400



At 31 July 2024

75,241



Amortisation


At 1 August 2023
37,668


Charge for the year on owned assets
15,049



At 31 July 2024

52,717



Net book value



At 31 July 2024
22,524



At 31 July 2023
29,173



Page 6

 
IRIS VISIONCARE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 August 2023
363
1,730
2,093



At 31 July 2024

363
1,730
2,093



Depreciation


At 1 August 2023
324
946
1,270


Charge for the year on owned assets
8
196
204



At 31 July 2024

332
1,142
1,474



Net book value



At 31 July 2024
31
588
619



At 31 July 2023
39
784
823


6.


Debtors

2024
2023
£
£


Trade debtors
515
-

Prepayments and accrued income
143
195

658
195



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
9,267
8,421

Other taxation and social security
2,828
806

Other creditors
158,976
158,968

Accruals and deferred income
4,000
-

175,071
168,195


Page 7

 
IRIS VISIONCARE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
33,776
43,043

Other creditors
128,852
122,852

162,628
165,895



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
9,267
8,421


9,267
8,421

Amounts falling due 1-2 years

Bank loans
9,608
9,267


9,608
9,267

Amounts falling due 2-5 years

Bank loans
24,168
25,993


24,168
25,993

Amounts falling due after more than 5 years

Bank loans
-
7,783

-
7,783

43,043
51,464


Page 8

 
IRIS VISIONCARE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £909 (2023 - £745). Contributions totalling £222 (2023 - £214) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9