The Gadget Refuge Highlands And Islands - Accounts to registrar (filleted)

REGISTERED NUMBER: SC771518 (Scotland)

Unaudited Financial Statements for the Year Ended 30 June 2025

for

The Gadget Refuge Highlands And Islands

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Howell

REGISTERED OFFICE:

Office 132 8 Church Street

Inverness

IV1 1EA

REGISTERED NUMBER:

SC771518 (Scotland)

ACCOUNTANTS:

G Ceidiog Hughes Limited

40 Brookhouse Road

Denbigh

Clwyd

LL16 4RQ

FIXED ASSETS

Intangible assets

4

14,042

15,091

Tangible assets

5

2,000

-

16,042

15,091

CURRENT ASSETS

Stocks

6

6,400

4,900

Debtors

7

1,544

1,429

Cash at bank

2,353

116

10,297

6,445

CREDITORS

Amounts falling due within one year

8

31,445

26,181

NET CURRENT LIABILITIES

(21,148

)

(19,736

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(5,106

)

(4,645

)

CAPITAL AND RESERVES

Called up share capital

9

100

Retained earnings

(5,206

)

(4,745

)

SHAREHOLDERS' FUNDS

(5,106

)

(4,645

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 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.

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 6 October 2025 and were signed by:

S Howell - Director

1.	STATUTORY INFORMATION

The Gadget Refuge Highlands And Islands 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.

Significant judgements and estimates

In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily available from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates.

The key judgements and sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

Estimated useful lives and residual values of tangible and intangible fixed assets

Depreciation of tangible fixed assets and amortisation of intangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during current and prior accounting periods.

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 2023, is being amortised evenly over its estimated useful life of fifteen 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 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.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors and trade creditors.

Trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2024

and 30 June 2025

16,140

AMORTISATION

At 1 July 2024

1,049

Amortisation for year

1,049

At 30 June 2025

2,098

NET BOOK VALUE

At 30 June 2025

14,042

At 30 June 2024

15,091

5.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

Additions

2,500

At 30 June 2025

2,500

DEPRECIATION

Charge for year

500

At 30 June 2025

500

NET BOOK VALUE

At 30 June 2025

2,000

6.

STOCKS

30.6.25

30.6.24

£

Stocks

6,400

4,900

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

30.6.24

£

Other debtors

11

-

Deferred tax asset

1,222

1,113

Prepayments

311

316

1,544

1,429

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

30.6.24

£

Directors' current accounts

30,945

25,681

Accrued expenses

500

31,445

26,181

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.25

30.6.24

value:

£

100

Ordinary

£1

100

10.	CAPITAL COMMITMENTS

30.6.25

30.6.24

£

Contracted but not provided for in the

financial statements

-

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S Howell.