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REGISTERED NUMBER: 09076097 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

ISLAND COMMERCIAL PROPERTY LIMITED

ISLAND COMMERCIAL PROPERTY LIMITED (REGISTERED NUMBER: 09076097)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ISLAND COMMERCIAL PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: M Groundsell
Mrs J E Quirke





REGISTERED OFFICE: 4 Kings Row
Armstrong Road
Maidstone
Kent
ME15 6AQ





REGISTERED NUMBER: 09076097 (England and Wales)





ACCOUNTANTS: Mackenzies Accountants Limited
Chartered Accountants
1 Langley Court
Pyle Street
Newport
Isle of Wight
PO30 1LA

ISLAND COMMERCIAL PROPERTY LIMITED (REGISTERED NUMBER: 09076097)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £ £
CURRENT ASSETS
Stocks 14,983 12,149

CREDITORS
Amounts falling due within one year 4 14,264 11,240
NET CURRENT ASSETS 719 909
TOTAL ASSETS LESS CURRENT
LIABILITIES

719

909

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 619 809
SHAREHOLDERS' FUNDS 719 909

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 16 January 2025 and were signed on its behalf by:





M Groundsell - Director


ISLAND COMMERCIAL PROPERTY LIMITED (REGISTERED NUMBER: 09076097)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Island Commercial Property 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.

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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

3. EMPLOYEES AND DIRECTORS

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

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other creditors 14,264 11,240

Other creditors consist of £780 accrued accountancy fees (2023: £780) plus £13,484 owed to Mark Groundsell (2023: £10,460).

5. RELATED PARTY DISCLOSURES

During the year the company provided construction and building services to Mark Groundsell, a director. Sales during the year to Mark Groundsell totalled £13,090 (2023: £1,638) which was paid in full. The directors consider these sales to be at a commercial rate.

6. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M Groundsell.