Laser and Lens Scotland Ltd - Accounts to registrar (filleted) - small 18.2

Laser and Lens Scotland Ltd - Accounts to registrar (filleted) - small 18.2

LASER AND LENS SCOTLAND LTD - Company Information

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IRIS Accounts Production v20.1.5.71 SC527608 Board of Directors Board of Directors 1.3.19 28.2.20 28.2.20 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC5276082019-02-28SC5276082020-02-28SC5276082019-03-012020-02-28SC5276082018-02-28SC5276082018-03-012019-02-28SC5276082019-02-28SC527608ns16:Scotland2019-03-012020-02-28SC527608ns15:PoundSterling2019-03-012020-02-28SC527608ns11:Director12019-03-012020-02-28SC527608ns11:Director22019-03-012020-02-28SC527608ns11:PrivateLimitedCompanyLtd2019-03-012020-02-28SC527608ns11:SmallEntities2019-03-012020-02-28SC527608ns11:AuditExempt-NoAccountantsReport2019-03-012020-02-28SC527608ns11:SmallCompaniesRegimeForDirectorsReport2019-03-012020-02-28SC527608ns11:SmallCompaniesRegimeForAccounts2019-03-012020-02-28SC527608ns11:FullAccounts2019-03-012020-02-28SC527608ns11:RegisteredOffice2019-03-012020-02-28SC527608ns6:CurrentFinancialInstruments2020-02-28SC527608ns6:CurrentFinancialInstruments2019-02-28SC527608ns6:ShareCapital2020-02-28SC527608ns6:ShareCapital2019-02-28SC527608ns6:RetainedEarningsAccumulatedLosses2020-02-28SC527608ns6:RetainedEarningsAccumulatedLosses2019-02-28SC527608ns6:PlantMachinery2019-02-28SC527608ns6:PlantMachinery2019-03-012020-02-28SC527608ns6:PlantMachinery2020-02-28SC527608ns6:PlantMachinery2019-02-28
REGISTERED NUMBER: SC527608 (Scotland)















Unaudited Financial Statements for the Year Ended 28 February 2020

for

Laser and Lens Scotland Ltd
Laser and Lens Scotland Ltd (Registered number: SC527608)






Contents of the Financial Statements
for the Year Ended 28 February 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Laser and Lens Scotland Ltd

Company Information
for the Year Ended 28 February 2020







DIRECTORS: S Mantry
Dr D Mantry





REGISTERED OFFICE: Beaumont House
Grange Road
Glasgow
G61 3PL





REGISTERED NUMBER: SC527608 (Scotland)





ACCOUNTANTS: Braidwood Graham Ltd
Chartered Accountants
One Cherry Court
Cavalry Park
Peebles
Borders
EH45 9BU
Page 1
Laser and Lens Scotland Ltd (Registered number: SC527608)

Balance Sheet
28 February 2020

28.2.20 28.2.19
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 262 774
Investment property 5 639,906 396,862
640,168 397,636

CURRENT ASSETS
Cash at bank and in hand 1,204,911 399,837

CREDITORS
Amounts falling due within one year 6 267,681 159,007
NET CURRENT ASSETS 937,230 240,830
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,577,398
638,466

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,577,298 638,366
SHAREHOLDERS' FUNDS 1,577,398 638,466

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2020 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 notes form part of these financial statements

Page 2 continued...
Laser and Lens Scotland Ltd (Registered number: SC527608)

Balance Sheet - continued
28 February 2020


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 Board of Directors and authorised for issue on
17 August 2020 and were signed on its behalf by:




S Mantry - Director



Dr D Mantry - Director


The notes form part of these financial statements

Page 3
Laser and Lens Scotland Ltd (Registered number: SC527608)

Notes to the Financial Statements
for the Year Ended 28 February 2020

1. STATUTORY INFORMATION

Laser and Lens Scotland Ltd 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.

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 as modified by the revaluation of certain assets.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 28 February 2020 are the first that are prepared in
accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance
with FRS 105, the date of transition to FRS 102 Section 1A is 1 March 2018.

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from
changes in fair value is recognised in profit or 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 NIL (2019 - NIL).

Page 4 continued...
Laser and Lens Scotland Ltd (Registered number: SC527608)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2020

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2019
and 28 February 2020 2,048
DEPRECIATION
At 1 March 2019 1,274
Charge for year 512
At 28 February 2020 1,786
NET BOOK VALUE
At 28 February 2020 262
At 28 February 2019 774

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2019 396,862
Additions 355,969
Revaluations (112,925 )
At 28 February 2020 639,906
NET BOOK VALUE
At 28 February 2020 639,906
At 28 February 2019 396,862

Fair value at 28 February 2020 is represented by:

£   
Valuation in 1 337,333
Valuation in 2 158,047
Valuation in 3 144,526
639,906

If investment properties had not been revalued they would have been included at the following
historical cost:

28.2.20 28.2.19
£    £   
Cost 752,831 -

investment properties were valued on fair value basis on 28 February 2020 by The Directors .

Page 5 continued...
Laser and Lens Scotland Ltd (Registered number: SC527608)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2020

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.20 28.2.19
£    £   
Taxation and social security 247,278 144,230
Other creditors 20,403 14,777
267,681 159,007

Page 6