ISLA AND BOE LTD |
Notes to the Accounts |
for the year ended 28 February 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
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Going concern |
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The accounts have been prepared on a going concern basis, the validity of which is dependent upon the continued support of the directors. The directors have given assurances that this support will continue for the foreseeable future and they are hopeful that profitability will improve next year. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Fixtures, fittings, tools and equipment |
over 5 years |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
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Cost |
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At 1 March 2022 |
1,729 |
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Additions |
3,666 |
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At 28 February 2023 |
5,395 |
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Depreciation |
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At 1 March 2022 |
345 |
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Charge for the year |
1,080 |
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At 28 February 2023 |
1,425 |
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Net book value |
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At 28 February 2023 |
3,970 |
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At 28 February 2022 |
1,384 |
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4 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Other creditors |
42,630 |
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20,538 |
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5 |
Other information |
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ISLA AND BOE LTD is a private company limited by shares and incorporated in England. Its registered office is: |
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21 Farnborough Road |
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Bolton |
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Lancs |
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BL1 7HJ |