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REGISTERED NUMBER: 10855716 (England and Wales)















ISLAND CONSULTING LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2023






ISLAND CONSULTING LIMITED (REGISTERED NUMBER: 10855716)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023










Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


ISLAND CONSULTING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTORS: A S E Dickson
Mrs J M Dickson





REGISTERED OFFICE: 923 Finchley Road
Golders Green
London
NW11 7PE





REGISTERED NUMBER: 10855716 (England and Wales)





ACCOUNTANTS: Joseph Kahan Associates LLP
Chartered Accountants
923 Finchley Road
London
NW11 7PE

ISLAND CONSULTING LIMITED (REGISTERED NUMBER: 10855716)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31ST JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,839 3,228

CURRENT ASSETS
Debtors 61,380 10,063
Cash at bank 12,366 97,746
73,746 107,809
CREDITORS
Amounts falling due within one year 36,242 38,170
NET CURRENT ASSETS 37,504 69,639
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,343

72,867

CAPITAL AND RESERVES
Called up share capital 5 100 100
Retained earnings 40,243 72,767
SHAREHOLDERS' FUNDS 40,343 72,867

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2023 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.

ISLAND CONSULTING LIMITED (REGISTERED NUMBER: 10855716)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31ST JULY 2023


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 Statement of Income and Retained Earnings and an abridged Statement of Financial Position for the year ended 31st July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 8th April 2024 and were signed on its behalf by:





A S E Dickson - Director


ISLAND CONSULTING LIMITED (REGISTERED NUMBER: 10855716)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023


1. STATUTORY INFORMATION

Island Consulting 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 as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

* the amount of revenue can be measured reliably;

* it is probable that the Company will receive the consideration due under the contract;

* the stage of completion of the contract at the end of the reporting period can be measured reliably; and

* the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furnishing equipment - 33% on reducing balance
Office furnishings - 33% on reducing balance
Computer equipment - 50% on cost

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.


ISLAND CONSULTING LIMITED (REGISTERED NUMBER: 10855716)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023


2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

ISLAND CONSULTING LIMITED (REGISTERED NUMBER: 10855716)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st August 2022 20,675
Additions 1,374
At 31st July 2023 22,049
DEPRECIATION
At 1st August 2022 17,447
Charge for year 1,763
At 31st July 2023 19,210
NET BOOK VALUE
At 31st July 2023 2,839
At 31st July 2022 3,228

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st July 2023 and 31st July 2022:

2023 2022
£    £   
Mrs J M Dickson
Balance outstanding at start of year - -
Amounts advanced 22,500 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,500 -

A S E Dickson
Balance outstanding at start of year - -
Amounts advanced 22,500 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,500 -

Loans at a rate of 2.25% interest were taken out by the directors during the year and repaid in full within 9 months of the year end.