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Registered number: 14750369
Island Portfolio Development Limited
Unaudited Financial Statements
For the Period 22 March 2023 to 31 March 2024
JMS Accounting Services Ltd
485 Catalyst House
720 Centennial Court, Centennial Park
Elstree
Herfordshire
WD6 3SY
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—3
Page 1
Statement of Financial Position
Registered number: 14750369
31 March 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 839
839
CURRENT ASSETS
Debtors 5 226,903
Cash at bank and in hand 31,152
258,055
Creditors: Amounts Falling Due Within One Year 6 (260,043 )
NET CURRENT ASSETS (LIABILITIES) (1,988 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,149 )
NET LIABILITIES (1,149 )
CAPITAL AND RESERVES
Called up share capital 7 100
Income Statement (1,249 )
SHAREHOLDERS' FUNDS (1,149)
For the period ending 31 March 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 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
The financial statements were approved by the board of directors on 21 January 2025 and were signed on its behalf by:
Dilip Parmar
Director
21/01/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Island Portfolio Development Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14750369 . The registered office is 1 Alexandra Road , Hornsey, London, N8 0PJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 20% per annum
2.4. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income statement, directors report, and notes to the financial statements relating to the income statement.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2
2
4. Tangible Assets
Computer Equipment
£
Cost
As at 22 March 2023 -
Additions 1,049
As at 31 March 2024 1,049
Depreciation
As at 22 March 2023 -
Provided during the period 210
As at 31 March 2024 210
Net Book Value
As at 31 March 2024 839
As at 22 March 2023 -
Page 2
Page 3
5. Debtors
31 March 2024
£
Due within one year
Amounts owed by participating interests 208,888
Other debtors 18,015
226,903
6. Creditors: Amounts Falling Due Within One Year
31 March 2024
£
Accruals and deferred income 1,020
Directors' loan accounts 3,883
Amounts owed to subsidiaries 255,140
260,043
7. Share Capital
31 March 2024
£
Allotted, Called up and fully paid 100
Page 3