Company Registration No. 08981190 (England and Wales)
Islands Discounts Limited
Unaudited accounts
for the period from 1 March 2023 to 28 February 2024
Islands Discounts Limited
Unaudited accounts
Contents
Islands Discounts Limited
Company Information
for the period from 1 March 2023 to 28 February 2024
Company Number
08981190 (England and Wales)
Registered Office
103 High Street
Waltham Cross
Hertfordshire
EN8 7AN
Accountants
Brindley Goldstein Ltd
103 High Street
Waltham Cross
EN8 7AN
Islands Discounts Limited
Statement of financial position
as at 28 February 2024
Cash at bank and in hand
3,013
6,708
Creditors: amounts falling due within one year
(112,584)
(112,614)
Net current liabilities
(103,331)
(101,071)
Total assets less current liabilities
(103,287)
(101,003)
Creditors: amounts falling due after more than one year
(12,733)
(13,235)
Net liabilities
(116,020)
(114,238)
Called up share capital
100
100
Profit and loss account
(116,120)
(114,338)
Shareholders' funds
(116,020)
(114,238)
For the period ending 28 February 2024 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 November 2024 and were signed on its behalf by
Mr P. Doherty
Director
Company Registration No. 08981190
Islands Discounts Limited
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
Islands Discounts Limited is a private company, limited by shares, registered in England and Wales, registration number 08981190. The registered office is 103 High Street, Waltham Cross, Hertfordshire, EN8 7AN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% Straightline
Fixtures & fittings
10% Straightline
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Islands Discounts Limited
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
4
Tangible fixed assets
Fixtures & fittings
5
Creditors: amounts falling due within one year
2024
2023
Loans from directors
111,504
111,504
6
Creditors: amounts falling due after more than one year
2024
2023
7
Transactions with related parties
The company was under the control of Mr P. Doherty during the current year. Mr P. Doherty is personally interested in 100% of the company's share capital.
8
Average number of employees
During the period the average number of employees was 4 (2023: 4).