Registered number
03745258
Isle Care (Axholme) Limited
Filleted Accounts
30 April 2024
Isle Care (Axholme) Limited
Registered number: 03745258
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 5 937,846 938,877
Current assets
Debtors 6 787,137 764,841
Cash at bank and in hand 262,074 118,237
1,049,211 883,078
Creditors: amounts falling due within one year 7 (161,902) (103,380)
Net current assets 887,309 779,698
Total assets less current liabilities 1,825,155 1,718,575
Provisions for liabilities (17,109) (12,826)
Net assets 1,808,046 1,705,749
Capital and reserves
Called up share capital 200 200
Share premium 322,240 322,240
Profit and loss account 1,485,606 1,383,309
Shareholder's funds 1,808,046 1,705,749
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.
Mrs L A K Khurana
Director
Approved by the board on 27 January 2025 and signed on its behalf
Isle Care (Axholme) Limited
Notes to the Accounts
for the year ended 30 April 2024
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.
Covid-19 funding
Other operating income includes amounts received from government to enable the business to manage the impact of Covid-19. This mainly occurred in the previous year.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 20% reducing balance
Depreciation is not provided on freehold buildings because the residual value of the buildings at the end of their useful life is expected to be higher than its cost or revaluation. No impairment losses are expected but all categories of fixed assets are annually reviewed for impairment.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Audit information
The audit report is unqualified.
Senior statutory auditor: Mark Jackson BA FCA
Firm: Jacksons
Date of audit report: 27 January 2025
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 40 40
4 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 170,000
At 30 April 2024 170,000
Amortisation
At 1 May 2023 170,000
At 30 April 2024 170,000
Net book value
At 30 April 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
5 Tangible fixed assets
Land and buildings Plant and machinery Total
£ £ £
Cost
At 1 May 2023 901,816 304,151 1,205,967
Additions - 8,012 8,012
Disposals - (6,633) (6,633)
At 30 April 2024 901,816 305,530 1,207,346
Depreciation
At 1 May 2023 - 267,090 267,090
Charge for the year - 9,015 9,015
On disposals - (6,605) (6,605)
At 30 April 2024 - 269,500 269,500
Net book value
At 30 April 2024 901,816 36,030 937,846
At 30 April 2023 901,816 37,061 938,877
6 Debtors 2024 2023
£ £
Trade debtors 15,355 32,865
Amounts owed by group undertakings and undertakings in which the company has a participating interest 730,322 693,980
Other debtors 41,460 37,996
787,137 764,841
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 14,699 25,838
Taxation and social security costs 47,043 16,004
Other creditors 100,160 61,538
161,902 103,380
8 Controlling party
The company's parent is Dryband One Limited, a company incorporated in England. The ultimate control is held by L A K Khurana.
Dryband One Limited prepares consolidated accounts. Its registered office is 68 Butt Lane, Laceby, Grimsby, North East Lincolnshire DN37 7AH
9 Other information
Isle Care (Axholme) Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 Church Street
Haxey
Doncaster
South Yorkshire
DN9 2HY
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