ISLACARE LTD

Company Registration Number:
12108076 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 August 2022

End date: 31 December 2023

ISLACARE LTD

Contents of the Financial Statements

for the Period Ended 31 December 2023

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

ISLACARE LTD

Company Information

for the Period Ended 31 December 2023




Director: Peter Hansell
James Jurkiewicz
Joseph Andrew Bond
Registered office: 17
Blessbury Road
Edgware
GBR
HA8 0SU
Company Registration Number: 12108076 (England and Wales)

ISLACARE LTD

Directors' Report Period Ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Principal Activities

The principal activity of the company is providing software services to the healthcare industry.

Directors

The directors shown below have held office during the whole of the period from 01 August 2022 to 31 December 2023
Peter Hansell
James Jurkiewicz

The director(s) shown below were appointed to the company during the period
Joseph Andrew Bond
21 February 2023

This report was approved by the board of directors on 31 July 2024
And Signed On Behalf Of The Board By:

Name: Peter Hansell
Status: Director

ISLACARE LTD

Profit and Loss Account

for the Period Ended 31 December 2023


Notes
17 months to
31 Dec 2023
£

2022
£
Turnover 2,213,205 1,042,616
Cost of sales ( 738,677 ) ( 166,187 )
Gross Profit or (Loss) 1,474,528 876,429
Administrative Expenses ( 3,314,524 ) ( 1,049,571 )
Operating Profit or (Loss) ( 1,839,996 ) ( 173,142 )
Interest Receivable and Similar Income 7,440 -
Profit or (Loss) Before Tax ( 1,832,556 ) ( 173,142 )
Profit or (Loss) for Period ( 1,832,556 ) ( 173,142 )

The notes form part of these financial statements

ISLACARE LTD

Balance sheet

As at 31 December 2023


Notes
17 months to
31 Dec 2023
£

2022
£
Fixed assets
Tangible assets: 4 36,330 18,298
Total fixed assets: 36,330 18,298
Current assets
Debtors: 5 972,329 1,060,519
Cash at bank and in hand: 2,680,718 658,193
Total current assets: 3,653,047 1,718,712
Prepayments and accrued income: 42,008 14,504
Creditors: amounts falling due within one year: 6 ( 1,250,514 ) ( 1,756,301 )
Net current assets (liabilities): 2,444,541 ( 23,085 )
Total assets less current liabilities: 2,480,871 ( 4,787 )
Total net assets (liabilities): 2,480,871 ( 4,787 )

The notes form part of these financial statements

ISLACARE LTD

Balance sheet continued

As at 31 December 2023


Notes
17 months to
31 Dec 2023
£

2022
£
Capital and reserves
Called up share capital: 103 102
Profit and loss account: 2,480,768 ( 4,889 )
Shareholders funds: 2,480,871 ( 4,787 )

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 31 July 2024
And Signed On Behalf Of The Board By:

Name: Peter Hansell
Status: Director

The notes form part of these financial statements

ISLACARE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for services rendered.

    Revenue is recognised when the Company has (a) transferred the significant risks and rewards of ownership to the buyer, (b) the amount of revenue can be measured reliably, (c) it is probably that future economic benefits will flow to the entity and (d) it is probable the Company will receive the previously agreed amount upon payment. The Company defers recognition of revenue by reference to the contract dates determined by the value of services provided at the balance sheet date as a proportion of the total value of the engagement.

    Any service provided to the client which at the balance sheet date has not been billed, has been recognised as revenue and is included in debtors.

    Any interest income is recognised using the effective interest rate method.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

    Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost of an asset less its estimated residual value over the useful economic life of that asset. The following rates are used using a straight line method:

    Computer equipment: 3 - 10 years
    Office equipment: 3 - 10 years

    The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

    Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in profit or loss.

    Other accounting policies

    The prior year presentation has been adjusted to conform to the current year presentation. The nature of the adjustment is not significant and assists in comparing the current year with the prior year. The current year financial statements are presented for a period of 17 months, due to a change in reporting period end from 31 July to 31 December in order to coincide with the calendar year and industry standard. The comparative figures therefore do not show a like for like comparison.

ISLACARE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    17 months to
    31 Dec 2023

    2022
    Average number of employees during the period 28 18

ISLACARE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 3. Off balance sheet disclosure

    No

ISLACARE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Tangible assets

Office equipment Total
Cost £ £
At 01 August 2022 21,735 21,735
Additions 31,233 31,233
Disposals - -
Revaluations - -
Transfers - -
At 31 December 2023 52,968 52,968
Depreciation
At 01 August 2022 3,437 3,437
Charge for year 13,201 13,201
On disposals - -
Other adjustments - -
At 31 December 2023 16,638 16,638
Net book value
At 31 December 2023 36,330 36,330
At 31 July 2022 18,298 18,298

ISLACARE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Debtors

17 months to
31 Dec 2023
£

2022
£
Trade debtors 560,482 505,550
Other debtors 411,847 554,969
Total 972,329 1,060,519

ISLACARE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

6.Creditors: amounts falling due within one year note

17 months to
31 Dec 2023
£

2022
£
Bank loans and overdrafts 6
Trade creditors 56,125 20,755
Taxation and social security 96,612 43,773
Accruals and deferred income 1,033,415 1,605,236
Other creditors 64,362 86,531
Total 1,250,514 1,756,301