Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity02022-10-01false0truetruefalse 12217213 2022-10-01 2023-09-30 12217213 2021-10-01 2022-09-30 12217213 2023-09-30 12217213 2022-09-30 12217213 c:Director2 2022-10-01 2023-09-30 12217213 d:CurrentFinancialInstruments 2023-09-30 12217213 d:CurrentFinancialInstruments 2022-09-30 12217213 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 12217213 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 12217213 d:ShareCapital 2023-09-30 12217213 d:ShareCapital 2022-09-30 12217213 d:RetainedEarningsAccumulatedLosses 2023-09-30 12217213 d:RetainedEarningsAccumulatedLosses 2022-09-30 12217213 d:TaxLossesCarry-forwardsDeferredTax 2023-09-30 12217213 d:TaxLossesCarry-forwardsDeferredTax 2022-09-30 12217213 c:FRS102 2022-10-01 2023-09-30 12217213 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 12217213 c:FullAccounts 2022-10-01 2023-09-30 12217213 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 12217213 e:PoundSterling 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Registered number: 12217213










ISLANDS OF THE PACIFIC LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
ISLANDS OF THE PACIFIC LIMITED
REGISTERED NUMBER: 12217213

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
-
370,621

Debtors: amounts falling due within one year
 3 
37,430
94,254

Cash at bank and in hand
  
36,624
5,829

  
74,054
470,704

Creditors: amounts falling due within one year
 4 
(186,342)
(500,439)

Net current liabilities
  
 
 
(112,288)
 
 
(29,735)

Total assets less current liabilities
  
(112,288)
(29,735)

  

Net liabilities
  
(112,288)
(29,735)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(112,289)
(29,736)

  
(112,288)
(29,735)


Page 1

 
ISLANDS OF THE PACIFIC LIMITED
REGISTERED NUMBER: 12217213
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






A Poustie
Director

Date: 10 April 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
ISLANDS OF THE PACIFIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Islands of the Pacific Limited (12217213) is a private company limited by shares and incoprated in England and Wales. Its registered office address is Wey Court West, Union Road, Farnham, Surrey, United Kingdom, GU9 7PT

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Going concern

At the year end, the company had net liabilities of £112,288 (2022 - £29,735) The directors are satisfied that the company can continue to trade with support from them.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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.

 
2.4

Stocks

Work in progress includes all directly attributable costs relating to the production of the programme.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
ISLANDS OF THE PACIFIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
ISLANDS OF THE PACIFIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

3.


Debtors

2023
2022
£
£


Trade debtors
-
68,194

Other debtors
-
21,715

Called up share capital not paid
1
1

Deferred taxation
37,429
4,344

37,430
94,254



4.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
232,321

Other creditors
183,920
229,910

Accruals and deferred income
2,422
38,208

186,342
500,439


There is a fixed and floating charge covering all of the property or undertaking of the company in favour of Natixis Coficine S.A.


5.


Deferred taxation




2023


£






At beginning of year
4,344


Charged to profit or loss
33,085



At end of year
37,429

Page 5

 
ISLANDS OF THE PACIFIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
 
5.Deferred taxation (continued)

The deferred tax asset is made up as follows:

2023
2022
£
£


Tax losses carried forward
37,429
4,344

37,429
4,344

 
Page 6