ACCOUNTS - Final Accounts preparation

Registered number: SC830836

IOLLA RICHMOND LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 MARCH 2026

IOLLA RICHMOND LIMITED

CONTENTS

	Page
Balance Sheet	1
Notes to the Financial Statements	2 - 7

IOLLA RICHMOND LIMITED

REGISTERED NUMBER: SC830836

BALANCE SHEET

AS AT 30 MARCH 2026

		2026
Note		£

Fixed assets
Tangible assets	4		16,763
Current assets
Stocks		10,812
Debtors	5	15,408
Cash at bank and in hand		38,728
		64,948
Creditors: amounts falling due within one year	6	(22,011)
Net current assets			42,937
Total assets less current liabilities			59,700
Creditors: amounts falling due after more than one year	7		(80,000)

Net liabilities			(20,300)

Capital and reserves
Called up share capital			100
Profit and loss reserves			(20,400)
			(20,300)

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 period 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 profit and loss account 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 2 September 2026.

A G Manson

Director

Page 1

IOLLA RICHMOND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 MARCH 2026

1.	General information

Iolla Richmond Limited is a private company limited by shares incorporated in Scotland. The registered office is Unit M7 Rosemount Business Park, 143 Charles Street, Glasgow, G21 2QA.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Iolla Richmond Limited is a subsidiary undertaking of Iolla JVP Holdings Limited, a company registered in Scotland, with their registered office being Unit M7 Rosemount Business Park, 143 Charles Street, Glasgow, G21 2QA. The ultimate parent company is Iolla Group Limited, a company registered in Scotland.

2.2

Accounting period

The financial statements have been prepared for the period ended 30 March 2026. During the period, the company changed its accounting reference date from 31 December 2025 to 30 March 2026 to align the financial year end with the rest of the companies in the group.

2.3

Going concern

The company is funded by way of borrowings from its parent and directors. As a result, the company is dependant on the ongoing support of its parent and directors, who have pledged to not demand repayment of the loan for a period of at least one year from the date of signing the accounts, or accept repayment from the company if it would result in the company being unable to meet its obligations. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.4

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

2.5

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.

Page 2

IOLLA RICHMOND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 MARCH 2026

2.Accounting policies (continued)

2.5

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Long-term leasehold property	-	25%	straight line
				Office equipment	-	25%	straight line

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.

2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.7

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.

2.8

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.

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 susbequently at amortised cost using the effective interest method.

Page 3

IOLLA RICHMOND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 MARCH 2026

2.Accounting policies (continued)

2.10

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.

2.11

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2.12

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2.13

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are requried to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

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

2.14

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Page 4

IOLLA RICHMOND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 MARCH 2026

2.Accounting policies (continued)

2.15

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Employees

The average monthly number of employees, including the directors, during the period was as follows:

			30 March
			2026
			No.


			0

4.	Tangible fixed assets

	Leasehold improvement	Plant and machinery	Total
	£	£	£
Cost
At 22 January 2025	-	-	-
Additions	17,096	175	17,271
At 30 March 2026	17,096	175	17,271
Depreciation
Charge for the period on owned assets	505	3	508
At 30 March 2026	505	3	508
Net book value
At 30 March 2026	16,591	172	16,763

Page 5

IOLLA RICHMOND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 MARCH 2026

Debtors

					2026
					£


	Other debtors	14,908
	Prepayments and accrued income	500
		15,408

6.	Creditors: Amounts falling due within one year
		2026
		£

	Trade creditors	6,430
	Other taxation and social security	828
	Accruals and deferred income	9,562
	Amounts owed to group undertakings	5,191
		22,011

7.	Creditors: Amounts falling due after more than one year
		2026
		£

	Other loans	40,000
	Amounts owed to group undertakings	40,000
		80,000

Page 6

IOLLA RICHMOND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 MARCH 2026

8.	Share capital
		2026
		£

		Allotted, called up and fully paid

		49 A Ordinary shares shares of £1.00 each	49
		51 B Ordinary shares shares of £1.00 each	51

			100

During the period to 30 March 2026, 49 A Ordinary shares of £1 each were issued along with 51 B Ordinary shares of £1 each.

9.Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £140,000.

10.	Related party transactions
	The directors are of the opinion that all related party transactions are conducted under normal market conditions and on an arm's length basis and therefore do not need to be disclosed under FRS 102 section 1A appendix C.

11.	Parent company

The ultimate parent company is Iolla Group Limited, a company registered in Scotland.

Page 7