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REGISTERED NUMBER: 08055496 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Island Carpentry Limited

Island Carpentry Limited (Registered number: 08055496)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Island Carpentry Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: C Carless
A Lott





SECRETARY:





REGISTERED OFFICE: 16c Sandown Road
Lake
Isle of Wight
PO36 9JP





REGISTERED NUMBER: 08055496 (England and Wales)





ACCOUNTANTS: Allegri & Co.
16c Sandown Road
Lake
Isle of Wight
PO36 9JP

Island Carpentry Limited (Registered number: 08055496)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,040 6,547

CURRENT ASSETS
Debtors 5 112,752 77,756
Cash at bank 250 5
113,002 77,761
CREDITORS
Amounts falling due within one year 6 81,650 48,183
NET CURRENT ASSETS 31,352 29,578
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,392

36,125

CREDITORS
Amounts falling due after more than one
year

7

40,187

43,475
NET LIABILITIES (3,795 ) (7,350 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (3,797 ) (7,352 )
SHAREHOLDERS' FUNDS (3,795 ) (7,350 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Carpentry Limited (Registered number: 08055496)

Balance Sheet - continued
31 May 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 21 February 2024 and were signed on its behalf by:





C Carless - Director


Island Carpentry Limited (Registered number: 08055496)

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

1. STATUTORY INFORMATION

Island Carpentry 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.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

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 June 2022
and 31 May 2023 20,576
DEPRECIATION
At 1 June 2022 14,029
Charge for year 1,507
At 31 May 2023 15,536
NET BOOK VALUE
At 31 May 2023 5,040
At 31 May 2022 6,547

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 112,752 77,756

Island Carpentry Limited (Registered number: 08055496)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 17,856 14,388
Hire purchase contracts 2,155 4,172
Taxation and social security 59,489 27,472
Other creditors 2,150 2,151
81,650 48,183

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Other creditors 40,187 43,475

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.5.23 31.5.22
£    £   
C Carless
Balance outstanding at start of year 39,035 33,602
Amounts advanced 41,949 28,780
Amounts repaid (24,534 ) (23,347 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 56,450 39,035

A Lott
Balance outstanding at start of year 38,719 33,714
Amounts advanced 30,649 28,780
Amounts repaid (13,066 ) (23,775 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 56,302 38,719