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REGISTERED NUMBER: 06280065 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

ISLES OF SCILLY PARKING COMPANY LIMITED

ISLES OF SCILLY PARKING COMPANY LIMITED (REGISTERED NUMBER: 06280065)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ISLES OF SCILLY PARKING COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: R Emslie
R Gartrell





REGISTERED OFFICE: 12 Clements Road
Penzance
Cornwall
TR18 4LL





REGISTERED NUMBER: 06280065 (England and Wales)





ACCOUNTANTS: Hawthorn Carter
6 Penpol Road
Hayle
Cornwall
TR27 4AD

ISLES OF SCILLY PARKING COMPANY LIMITED (REGISTERED NUMBER: 06280065)

BALANCE SHEET
30 APRIL 2024

30/4/24 30/4/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 74,300 73,933
74,300 73,933

CURRENT ASSETS
Debtors 6 10,845 13,123
Cash at bank 12,126 45,364
22,971 58,487
CREDITORS
Amounts falling due within one year 7 33,233 32,219
NET CURRENT (LIABILITIES)/ASSETS (10,262 ) 26,268
TOTAL ASSETS LESS CURRENT
LIABILITIES

64,038

100,201

CREDITORS
Amounts falling due after more than one
year

8

(11,667

)

(20,667

)

PROVISIONS FOR LIABILITIES (7,837 ) (7,645 )
NET ASSETS 44,534 71,889

CAPITAL AND RESERVES
Called up share capital 9 6 6
Retained earnings 44,528 71,883
SHAREHOLDERS' FUNDS 44,534 71,889

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

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

ISLES OF SCILLY PARKING COMPANY LIMITED (REGISTERED NUMBER: 06280065)

BALANCE SHEET - continued
30 APRIL 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 30 January 2025 and were signed on its behalf by:





R Emslie - Director


ISLES OF SCILLY PARKING COMPANY LIMITED (REGISTERED NUMBER: 06280065)

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

1. STATUTORY INFORMATION

Isles Of Scilly Parking Company 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on cost and 20% on reducing balance
Computer equipment - 33% on cost

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.

ISLES OF SCILLY PARKING COMPANY LIMITED (REGISTERED NUMBER: 06280065)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 20,000
AMORTISATION
At 1 May 2023
and 30 April 2024 20,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 30,094 56,908 91,612 1,646 180,260
Additions - - 13,557 - 13,557
At 30 April 2024 30,094 56,908 105,169 1,646 193,817
DEPRECIATION
At 1 May 2023 - 52,589 53,195 543 106,327
Charge for year - 1,080 11,567 543 13,190
At 30 April 2024 - 53,669 64,762 1,086 119,517
NET BOOK VALUE
At 30 April 2024 30,094 3,239 40,407 560 74,300
At 30 April 2023 30,094 4,319 38,417 1,103 73,933

ISLES OF SCILLY PARKING COMPANY LIMITED (REGISTERED NUMBER: 06280065)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Trade debtors 1,122 1,123
Prepayments and accrued income 9,723 12,000
10,845 13,123

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Bank loans and overdrafts 10,000 11,000
Tax 6,253 5,417
Social security and other taxes 4,999 2,460
Net wages control 3,410 1,696
VAT 5,264 8,838
Directors' current accounts 552 2,058
Accrued expenses 2,755 750
33,233 32,219

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/4/24 30/4/23
£    £   
Bank loans - 1-2 years 11,667 20,667

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/4/24 30/4/23
value: £    £   
2 Ordinary £1 £1 2 2
1 Ordinary R £1 £1 1 1
1 Ordinary B £1 £1 1 1
1 Ordinary M £1 £1 1 1
1 Ordinary O £1 £1 1 1
6 6