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Company No: 03185814 (England and Wales)

ISIS RESCUE LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

ISIS RESCUE LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

ISIS RESCUE LIMITED

COMPANY INFORMATION

For the financial year ended 31 August 2024
ISIS RESCUE LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2024
DIRECTORS T Weedon
J Weedon
SECRETARY J Weedon
REGISTERED OFFICE 22 Wycombe End
Beaconsfield
Buckingamshire
HP9 1NB
United Kingdom
COMPANY NUMBER 03185814 (England and Wales)
ACCOUNTANT S&W Partners (Thames Valley) Limited
22 Wycombe End
Beaconsfield
Buckinghamshire
HP9 1NB
ISIS RESCUE LIMITED

BALANCE SHEET

As at 31 August 2024
ISIS RESCUE LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 960,947 758,167
960,947 758,167
Current assets
Stocks 4 15,551 15,551
Debtors 5 733,547 696,433
Cash at bank and in hand 6 442,146 486,562
1,191,244 1,198,546
Creditors: amounts falling due within one year 7 ( 365,241) ( 317,831)
Net current assets 826,003 880,715
Total assets less current liabilities 1,786,950 1,638,882
Creditors: amounts falling due after more than one year 8 ( 17,226) ( 61,242)
Provision for liabilities 9 ( 125,192) ( 75,899)
Net assets 1,644,532 1,501,741
Capital and reserves
Called-up share capital 10 1,500 1,500
Profit and loss account 1,643,032 1,500,241
Total shareholders' funds 1,644,532 1,501,741

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Isis Rescue Limited (registered number: 03185814) were approved and authorised for issue by the Board of Directors on 20 May 2025. They were signed on its behalf by:

J Weedon
Director
ISIS RESCUE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
ISIS RESCUE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Isis Rescue Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22 Wycombe End, Beaconsfield, Buckinghamshire, HP9 1NB.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Isis Rescue Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Revenue arising from the provision of services is recognised by reference to the stage of completion. When the stage of completion cannot be measured reliably revenue is recognised up to the extent of recoverable expenses and accordingly no profit is recognised.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 100 years straight line
Plant and machinery etc. 4 years straight line
25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
Financial liabilities are derecognised when the Company’s contractual obligations expire or are discharged or cancelled.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 16 16

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 September 2023 549,636 1,228,007 1,777,643
Additions 11,421 472,118 483,539
Disposals 0 ( 188,873) ( 188,873)
At 31 August 2024 561,057 1,511,252 2,072,309
Accumulated depreciation
At 01 September 2023 101,079 918,397 1,019,476
Charge for the financial year 5,509 102,938 108,447
Disposals 0 ( 16,561) ( 16,561)
At 31 August 2024 106,588 1,004,774 1,111,362
Net book value
At 31 August 2024 454,469 506,478 960,947
At 31 August 2023 448,557 309,610 758,167

4. Stocks

2024 2023
£ £
Stocks 15,551 15,551

5. Debtors

2024 2023
£ £
Trade debtors 289,966 273,389
Corporation tax 14,068 14,068
Other debtors 429,513 408,976
733,547 696,433

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 442,146 486,562

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,011 10,000
Trade creditors 100,019 98,382
Taxation and social security 145,045 125,803
Obligations under finance leases and hire purchase contracts 34,044 34,044
Other creditors 76,122 49,602
365,241 317,831

Amounts owed under hire purchase agreements are secured by the asset to which they relate.

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 9,768 19,740
Obligations under finance leases and hire purchase contracts 7,458 41,502
17,226 61,242

Amounts owed under hire purchase agreements are secured by the asset to which they relate.

9. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 75,899) ( 52,192)
Charged to the Statement of Income and Retained Earnings ( 49,293) ( 23,707)
At the end of financial year ( 125,192) ( 75,899)

10. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000
500 A Class ordinary shares of £ 1.00 each 500 500
1,500 1,500

11. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 8,768 8,768
between one and five years 1,461 10,229
10,229 18,997

12. Related party transactions

Transactions with the entity's directors

At balance sheet date the directors owed the company £1,113 (2023 - £4,902). This amount includes interest of £236 (2022 - £110) which has been charged at a rate of 2.25%.

Other related party transactions

During the year the company was charged £36,000 (2023 - £36,000) in respect of management charges from a partnership between shareholders in the company who are also parents of its directors. At the year end the company owed £ Nil to the partnership (2023 - £3,000)