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REGISTERED NUMBER: 04244339 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Island Inboards Limited

Island Inboards Limited (Registered number: 04244339)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Island Inboards Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: Mr B Jones



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



REGISTERED NUMBER: 04244339 (England and Wales)



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



BANKERS: HSBC
38 Union Street
Ryde
Isle of Wight
PO33 2LJ

Island Inboards Limited (Registered number: 04244339)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 222 276

CURRENT ASSETS
Debtors 5 2,565 -
Cash at bank 31 3,984
2,596 3,984
CREDITORS
Amounts falling due within one year 6 2,620 3,099
NET CURRENT (LIABILITIES)/ASSETS (24 ) 885
TOTAL ASSETS LESS CURRENT
LIABILITIES

198

1,161

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 98 1,061
SHAREHOLDERS' FUNDS 198 1,161

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 director and authorised for issue on 22 April 2024 and were signed by:





Mr B Jones - Director


Island Inboards Limited (Registered number: 04244339)

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

1. STATUTORY INFORMATION

Island Inboards 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022
and 31 July 2023 11,242
DEPRECIATION
At 1 August 2022 10,966
Charge for year 54
At 31 July 2023 11,020
NET BOOK VALUE
At 31 July 2023 222
At 31 July 2022 276

Island Inboards Limited (Registered number: 04244339)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 645 -
Other debtors 1,920 -
2,565 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 275 -
Trade creditors 575 575
Taxation and social security 1,569 2,484
Other creditors 201 40
2,620 3,099

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
Mr B Jones
Balance outstanding at start of year (8 ) 3,888
Amounts advanced 20,100 14,460
Amounts repaid (18,172 ) (18,356 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,920 (8 )

The Director has confirm that £2,000 will be repaid before 30/4/2024.