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Company Registration No. 06929524 (England and Wales)
Island Lettings Limited Unaudited accounts for the year ended 31 March 2024
Island Lettings Limited Unaudited accounts Contents
Page
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Island Lettings Limited Company Information for the year ended 31 March 2024
Directors
Mark Burton Michael Dalloz Brett Gillingham Hugh Stephens Sarah Wratten Simon Wratten
Company Number
06929524 (England and Wales)
Registered Office
The Observatory Westridge Business Park Ryde Isle of Wight PO33 1FX
Accountants
Vision Accounting Fortis House Cothey Way Ryde Isle of Wight PO33 1QT
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Island Lettings Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
191,531 
191,531 
Tangible assets
- 
1,028 
191,531 
192,559 
Current assets
Debtors
125,440 
123,462 
Cash at bank and in hand
21,952 
40,011 
147,392 
163,473 
Creditors: amounts falling due within one year
(93,168)
(90,985)
Net current assets
54,224 
72,488 
Total assets less current liabilities
245,755 
265,047 
Provisions for liabilities
Deferred tax
- 
(196)
Net assets
245,755 
264,851 
Capital and reserves
Called up share capital
64 
64 
Profit and loss account
245,691 
264,787 
Shareholders' funds
245,755 
264,851 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2024 and were signed on its behalf by
Mark Burton Director Company Registration No. 06929524
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Island Lettings Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Island Lettings Limited is a private company, limited by shares, registered in England and Wales, registration number 06929524. The registered office is The Observatory, Westridge Business Park, Ryde, Isle of Wight, PO33 1FX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Straight Line
Computer equipment
25% Straight Line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
Other 
Total 
£ 
£ 
£ 
Cost
At 1 April 2023
20,000 
191,531 
211,531 
At 31 March 2024
20,000 
191,531 
211,531 
Amortisation
At 1 April 2023
20,000 
- 
20,000 
At 31 March 2024
20,000 
- 
20,000 
Net book value
At 31 March 2024
- 
191,531 
191,531 
At 31 March 2023
- 
191,531 
191,531 
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Island Lettings Limited Notes to the Accounts for the year ended 31 March 2024
5
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
17,187 
23,045 
40,232 
At 31 March 2024
17,187 
23,045 
40,232 
Depreciation
At 1 April 2023
17,187 
22,017 
39,204 
Charge for the year
- 
1,028 
1,028 
At 31 March 2024
17,187 
23,045 
40,232 
Net book value
At 31 March 2024
- 
- 
- 
At 31 March 2023
- 
1,028 
1,028 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
91,588 
83,912 
Accrued income and prepayments
3,503 
3,382 
Other debtors
30,349 
36,168 
125,440 
123,462 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
20,117 
20,210 
Trade creditors
707 
2,414 
Taxes and social security
40,389 
36,242 
Other creditors
- 
100 
Loans from directors
30,505 
30,501 
Accruals
1,450 
1,518 
93,168 
90,985 
8
Average number of employees
During the year the average number of employees was 9 (2023: 8).
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