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REGISTERED NUMBER: SC070764 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

Dark Island Limited (The)

Dark Island Limited (The) (Registered number: SC070764)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dark Island Limited (The)

Company Information
for the Year Ended 30 April 2023







DIRECTOR: Mr Stephen Joseph Peteranna





SECRETARY: Mrs Chrisella Peteranna





REGISTERED OFFICE: Liniclate
Creagorry
Benbecula
HS7 5JP





REGISTERED NUMBER: SC070764 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Dark Island Limited (The) (Registered number: SC070764)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,153,783 1,206,367

CURRENT ASSETS
Stock 27,801 30,921
Debtors 5 73,569 69,414
Cash at bank and in hand 102,647 265,371
204,017 365,706
CREDITORS
Amounts falling due within one year 6 172,448 159,098
NET CURRENT ASSETS 31,569 206,608
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,185,352

1,412,975

CREDITORS
Amounts falling due after more than one
year

7

331,934

370,347
NET ASSETS 853,418 1,042,628

CAPITAL AND RESERVES
Called up share capital 9 50,000 50,000
Revaluation reserve 10 803,224 803,224
Retained earnings 194 189,404
SHAREHOLDERS' FUNDS 853,418 1,042,628

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Dark Island Limited (The) (Registered number: SC070764)

Balance Sheet - continued
30 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 March 2024 and were signed by:





Mr Stephen Joseph Peteranna - Director


Dark Island Limited (The) (Registered number: SC070764)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Dark Island Limited (The) is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

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.
Land and property - 1.33% on cost
Plant and machinery - 12.5% on reducing balance
Fittings and equipment - 12.5% on reducing balance
Motor vehicles - 25% on reducing balance

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

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

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 balance sheet date.


Dark Island Limited (The) (Registered number: SC070764)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.


Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2022 - 51 ) .

Dark Island Limited (The) (Registered number: SC070764)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

4. TANGIBLE FIXED ASSETS
Fittings
Land and Plant and and Motor
property machinery equipment vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 May 2022 1,322,707 106,525 791,370 39,801 2,260,403
Additions - 2,755 - - 2,755
At 30 April 2023 1,322,707 109,280 791,370 39,801 2,263,158
DEPRECIATION
At 1 May 2022 390,526 94,487 551,610 17,413 1,054,036
Charge for year 17,594 2,102 30,046 5,597 55,339
At 30 April 2023 408,120 96,589 581,656 23,010 1,109,375
NET BOOK VALUE
At 30 April 2023 914,587 12,691 209,714 16,791 1,153,783
At 30 April 2022 932,181 12,038 239,760 22,388 1,206,367

The land and property was professionally valued in 1996 at £1.23m at Market Value based on existing use. Subsequent to then there have been additions at cost.
In the opinion of the directors the current value of the land and property is not significantly different from the value in the financial statements.

On a historical cost basis the net book value of land and property would be £362,138 (2020 - £368,925)

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 78,215 37,298
Other debtors (4,646 ) 32,116
73,569 69,414

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 51,772 65,132
Trade creditors 48,593 37,298
Taxation and social security 51,034 39,258
Other creditors 21,049 17,410
172,448 159,098

Dark Island Limited (The) (Registered number: SC070764)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 331,934 370,347

Amounts falling due in more than five years:

Repayable by instalments
Bank loan > 5 years 182,345 109,819

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 383,706 435,479

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50,000 Ordinary shares £1 50,000 50,000

10. RESERVES
Revaluation
reserve
£   
At 1 May 2022
and 30 April 2023 803,224