Registered number
06985132
Hundred Islands UK Ltd
Filleted Accounts
31 October 2023
Hundred Islands UK Ltd
Registered number: 06985132
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,797 2,377
Current assets
Stocks 2,000 2,000
Debtors 4 118 118
Cash at bank and in hand 1,239 105
3,357 2,223
Creditors: amounts falling due within one year 5 (34,262) (27,638)
Net current liabilities (30,905) (25,415)
Net liabilities (28,108) (23,038)
Capital and reserves
Called up share capital 100 100
Profit and loss account (28,208) (23,138)
Shareholders' funds (28,108) (23,038)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jmarie Summer De Guzman Smith
Director
Approved by the board on 16 July 2024
Hundred Islands UK Ltd
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 33% Reducing balance
Property Improvements 10% Straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 5,641 6,441 12,082
Additions 1,120 - 1,120
At 31 October 2023 6,761 6,441 13,202
Depreciation
At 1 November 2022 3,664 6,041 9,705
Charge for the year 620 80 700
At 31 October 2023 4,284 6,121 10,405
Net book value
At 31 October 2023 2,477 320 2,797
At 31 October 2022 1,977 400 2,377
4 Debtors 2023 2022
£ £
Other debtors 118 118
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 1,300 2,646
Trade creditors 3,136 3,136
Other creditors 29,826 21,856
34,262 27,638
6 Other information
Hundred Islands UK Ltd is a private company limited by shares and incorporated in England. Its registered office is:
15 Osborne Road
Swanage
BH19 2QA
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