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Registered Number: 07716700
England and Wales

 

 

 

ISLA CAPITAL PARTNERS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
Report to the directors on the preparation of the unaudited statutory accounts of Isla Capital Partners Limited for the year ended 31 March 2023.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Isla Capital Partners Limited for the year ended 31 March 2023 which comprise of the Income Statement and the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/.
This report is made solely to the Board of Directors of Isla Capital Partners Limited, as a body, in accordance with the terms of our engagement letter dated 14th February 2019. Our work has been undertaken solely to prepare for your approval the accounts of Isla Capital Partners Limited and state those matters that we have agreed to state to the Board of Directors of Isla Capital Partners Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Isla Capital Partners Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Isla Capital Partners Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Isla Capital Partners Limited. You consider that Isla Capital Partners Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Isla Capital Partners Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
Baranov Associates Ltd
4 Academy Close
Kirkby Stephen
Cumbria
CA17 4JG
04 October 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 57,218    1,279 
Investments 4 109,553    107,138 
166,771    108,417 
Current assets      
Debtors 592    626 
Cash at bank and in hand 400,339    392,234 
400,931    392,860 
Creditors: amount falling due within one year (36,006)   (40,118)
Net current assets 364,925    352,742 
 
Total assets less current liabilities 531,696    461,159 
Provisions for liabilities (10,871)   (243)
Net assets 520,825    460,916 
 

Capital and reserves
     
Called up share capital 5 118    118 
Profit and loss account 520,707    460,798 
Shareholder's funds 520,825    460,916 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 04 October 2023 and were signed on its behalf by:


-------------------------------
Ian Miscampbell
Director
2
General Information
Isla Capital Partners Limited is a private company, limited by shares, registered in England and Wales, registration number 07716700, registration address C/O Kilvington Solicitors, Westmorland House, Market Square, Kirkby Stephen, Cumbria, CA17 4QT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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 taxation
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.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 4 Years Reducing Balance
Computer Equipment 2 Years Straight Line
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Computer Equipment   Total
  £   £   £
At 01 April 2022   1,705    1,705 
Additions 66,280      66,280 
Disposals    
At 31 March 2023 66,280    1,705    67,985 
Depreciation
At 01 April 2022   426    426 
Charge for year 9,488    853    10,341 
On disposals    
At 31 March 2023 9,488    1,279    10,767 
Net book values
Closing balance as at 31 March 2023 56,792    426    57,218 
Opening balance as at 01 April 2022   1,279    1,279 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 April 2022 107,138    107,138 
Additions 2,415    2,415 
Transfer to/from tangible fixed assets  
Disposals  
At 31 March 2023 109,553    109,553 

5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Ordinary shares of £1.00 each 100    100 
6 A Ordinary shares of £1.00 each  
6 B Ordinary shares of £1.00 each  
6 C Ordinary shares of £1.00 each  
118    118 

3