IRIS Accounts Production v24.3.0.553 04300308 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh043003082023-03-31043003082024-03-31043003082023-04-012024-03-31043003082022-03-31043003082022-04-012023-03-31043003082023-03-3104300308ns15:EnglandWales2023-04-012024-03-3104300308ns14:PoundSterling2023-04-012024-03-3104300308ns10:Director12023-04-012024-03-3104300308ns10:Director22023-04-012024-03-3104300308ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3104300308ns10:SmallEntities2023-04-012024-03-3104300308ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3104300308ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3104300308ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104300308ns10:FullAccounts2023-04-012024-03-3104300308ns10:CompanySecretary12023-04-012024-03-3104300308ns10:RegisteredOffice2023-04-012024-03-3104300308ns5:CurrentFinancialInstruments2024-03-3104300308ns5:CurrentFinancialInstruments2023-03-3104300308ns5:ShareCapital2024-03-3104300308ns5:ShareCapital2023-03-3104300308ns5:RetainedEarningsAccumulatedLosses2024-03-3104300308ns5:RetainedEarningsAccumulatedLosses2023-03-3104300308ns5:LandBuildings2023-03-3104300308ns5:PlantMachinery2023-03-3104300308ns5:LandBuildings2023-04-012024-03-3104300308ns5:PlantMachinery2023-04-012024-03-3104300308ns5:LandBuildings2024-03-3104300308ns5:PlantMachinery2024-03-3104300308ns5:LandBuildings2023-03-3104300308ns5:PlantMachinery2023-03-3104300308ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3104300308ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-31
REGISTERED NUMBER: 04300308 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Island Foods Limited

Island Foods Limited (Registered number: 04300308)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Island Foods Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S Doe
Mrs M Doe





SECRETARY: Mrs M Doe





REGISTERED OFFICE: Unit 6 & 8 Cothey Way
Ryde
PO33 1QT





REGISTERED NUMBER: 04300308 (England and Wales)





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

Island Foods Limited (Registered number: 04300308)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 137,442 149,388

CURRENT ASSETS
Stocks 28,720 30,423
Debtors 5 115,532 72,565
Cash at bank and in hand 77,205 146,704
221,457 249,692
CREDITORS
Amounts falling due within one year 6 149,688 145,244
NET CURRENT ASSETS 71,769 104,448
TOTAL ASSETS LESS CURRENT
LIABILITIES

209,211

253,836

PROVISIONS FOR LIABILITIES 17,873 15,760
NET ASSETS 191,338 238,076

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 191,238 237,976
191,338 238,076

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Island Foods Limited (Registered number: 04300308)

Balance Sheet - continued
31 March 2024


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 Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:




S Doe - Director



Mrs M Doe - Director


Island Foods Limited (Registered number: 04300308)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Island Foods 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Island Foods Limited (Registered number: 04300308)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 88,360 371,215 459,575
Additions - 12,365 12,365
At 31 March 2024 88,360 383,580 471,940
DEPRECIATION
At 1 April 2023 40,568 269,619 310,187
Charge for year 4,418 19,893 24,311
At 31 March 2024 44,986 289,512 334,498
NET BOOK VALUE
At 31 March 2024 43,374 94,068 137,442
At 31 March 2023 47,792 101,596 149,388

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 90,453 49,931
Other debtors 25,079 22,634
115,532 72,565

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 121,625 115,388
Taxation and social security 19,066 18,452
Other creditors 8,997 11,404
149,688 145,244