REGISTERED NUMBER: SC286990 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 January 2025

for

First Sight (Glasgow) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs P MacEwen

REGISTERED OFFICE:

Pavilion 1

Finnieston Business Park

Minerva Way

GLASGOW

G3 8AU

REGISTERED NUMBER:

SC286990 (Scotland)

ACCOUNTANTS:

Gerber Landa & Gee

Chartered Accountants

Pavilion 1

Finnieston Business Park

Minerva Way

GLASGOW

G3 8AU

FIXED ASSETS

Intangible assets

4

18,028

24,424

Tangible assets

5

459,230

205,500

477,258

229,924

CURRENT ASSETS

Stocks

17,500

15,025

Debtors

6

116,588

155,776

Cash at bank and in hand

180,654

279,795

314,742

450,596

CREDITORS

Amounts falling due within one year

7

203,669

151,292

NET CURRENT ASSETS

111,073

299,304

TOTAL ASSETS LESS CURRENT LIABILITIES

588,331

529,228

CREDITORS

Amounts falling due after more than one year

8

(105,006

)

(37,094

)

PROVISIONS FOR LIABILITIES

(28,777

)

(4,773

)

NET ASSETS

454,548

487,361

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

454,448

487,261

SHAREHOLDERS' FUNDS

454,548

487,361

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 October 2025 and were signed by:

Mrs P MacEwen - Director

1.	STATUTORY INFORMATION

First Sight (Glasgow) 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 represents net sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in the acquisition of businesses in 2005 and 2010, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost, 25% on cost, 20% on cost and 10% 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.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 9 (2024 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2024

and 31 January 2025

127,922

AMORTISATION

At 1 February 2024

103,498

Charge for year

6,396

At 31 January 2025

109,894

NET BOOK VALUE

At 31 January 2025

18,028

At 31 January 2024

24,424

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 February 2024

186,636

412,814

599,450

Additions

-

330,501

330,501

At 31 January 2025

186,636

743,315

929,951

DEPRECIATION

At 1 February 2024

-

393,950

393,950

Charge for year

3,733

73,038

76,771

At 31 January 2025

3,733

466,988

470,721

NET BOOK VALUE

At 31 January 2025

182,903

276,327

459,230

At 31 January 2024

186,636

18,864

205,500

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

Additions

64,700

At 31 January 2025

64,700

DEPRECIATION

Charge for year

16,175

At 31 January 2025

16,175

NET BOOK VALUE

At 31 January 2025

48,525

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

25,994

24,006

Directors' current accounts

79,109

59,855

VAT

2,476

-

Prepayments and other debtors

9,009

71,915

116,588

155,776

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans and overdrafts

84,850

40,850

Hire purchase contracts

15,460

-

Trade creditors

44,633

30,023

Tax

-

57,230

Social security and other taxes

6,261

2,492

VAT

-

192

Other creditors

30,837

-

Accrued expenses

21,628

20,505

203,669

151,292

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans - 1-2 years

50,293

36,275

Bank loans - 2-5 years

-

819

Hire purchase contracts

54,713

-

105,006

37,094

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.25

31.1.24

£

£

Bank loans

135,143

77,944

A bond and floating charge over all of the company's assets is held by Handelsbanken Plc.

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2025 and 31 January 2024:

31.1.25

31.1.24

£

£

Mrs P MacEwen

Balance outstanding at start of year

59,855

60,855

Amounts advanced

79,854

60,000

Amounts repaid

(60,600

)

(61,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

79,109

59,855

At the year end an amount of £79,109 is due to the company by P MacEwen. This amount carried no interest and was repaid after the year end.