Isight Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03832843 (England and Wales)

Isight Limited

Unaudited Financial Statements for the Year Ended 31 March 2019

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A Akingbehin

Mrs S Akingbehin

REGISTERED OFFICE:

2 Lulworth Road

Southport

Merseyside

PR8 2AT

REGISTERED NUMBER:

03832843 (England and Wales)

ACCOUNTANTS:

Advance Chartered Accountants

71/73 Hoghton Street

Southport

Merseyside

PR9 0PR

FIXED ASSETS

Tangible assets

4

552,938

496,242

CURRENT ASSETS

Stocks

20,252

15,000

Debtors

498,975

217,609

Cash at bank and in hand

483,600

564,939

1,002,827

797,548

CREDITORS

Amounts falling due within one year

527,406

418,066

NET CURRENT ASSETS

475,421

379,482

TOTAL ASSETS LESS CURRENT LIABILITIES

1,028,359

875,724

CREDITORS

Amounts falling due after more than one year

(138,575

)

(228,911

)

PROVISIONS FOR LIABILITIES

(83,506

)

(69,776

)

NET ASSETS

806,278

577,037

CAPITAL AND RESERVES

Called up share capital

25,000

25,000

Retained earnings

781,278

552,037

SHAREHOLDERS' FUNDS

806,278

577,037

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 9 October 2019 and were signed on its behalf by:

Mr A Akingbehin - Director

Mrs S Akingbehin - Director

1.	STATUTORY INFORMATION

Isight Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

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 is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

at variable rates on reducing balance

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating

result.

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 27 (2018 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

1,600,847

Additions

124,626

Disposals

(532,345

)

At 31 March 2019

1,193,128

DEPRECIATION

At 1 April 2018

1,104,605

Charge for year

67,898

Eliminated on disposal

(532,313

)

At 31 March 2019

640,190

NET BOOK VALUE

At 31 March 2019

552,938

At 31 March 2018

496,242