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REGISTERED NUMBER: 07406269 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Island Home Improvements Limited

Island Home Improvements Limited (Registered number: 07406269)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Island Home Improvements Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr Jonathan Victor Powney
Mrs Clare Louise Powney





SECRETARY:





REGISTERED OFFICE: 18 Marsden Street
Poundbury
Dorchester
DT1 3DH





REGISTERED NUMBER: 07406269 (England and Wales)





ACCOUNTANTS: Vatax Accounting Ltd
18 Marsden Street
Poundbury
Dorchester
Dorset
DT1 3DH

Island Home Improvements Limited (Registered number: 07406269)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £ £
FIXED ASSETS
Tangible assets 4 30,817 36,437

CURRENT ASSETS
Stocks 30,038 30,927
Debtors 5 9,614 7,686
Cash at bank and in hand 1 917
39,653 39,530
CREDITORS
Amounts falling due within one year 6 (34,090 ) (33,732 )
NET CURRENT ASSETS 5,563 5,798
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,380

42,235

CREDITORS
Amounts falling due after more than
one year

7

(34,021

)

(41,558

)
NET ASSETS 2,359 677

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,259 577
2,359 677

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Home Improvements Limited (Registered number: 07406269)

Balance Sheet - continued
31 October 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 February 2024 and were signed on its behalf by:




Mr Jonathan Victor Powney - Director



Mrs Clare Louise Powney - Director


Island Home Improvements Limited (Registered number: 07406269)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Island Home Improvements 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 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.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 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.

Island Home Improvements Limited (Registered number: 07406269)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 November 2022 63,886
Additions 2,083
At 31 October 2023 65,969
DEPRECIATION
At 1 November 2022 27,449
Charge for year 7,703
At 31 October 2023 35,152
NET BOOK VALUE
At 31 October 2023 30,817
At 31 October 2022 36,437

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£ £
Trade debtors 7,075 2,805
Other debtors 2,539 4,881
9,614 7,686

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£ £
Bank loans and overdrafts 9,021 9,084
Trade creditors 14,392 25,367
Taxation and social security 10,389 (1,807 )
Other creditors 288 1,088
34,090 33,732

Island Home Improvements Limited (Registered number: 07406269)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.10.23 31.10.22
£ £
Bank loans 12,333 14,333
Hire purchase contracts 21,688 27,225
34,021 41,558

Amounts falling due in more than five years:

Repayable by instalments
Bounce back loan - 14,333