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REGISTERED NUMBER: 08055496 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Island Carpentry Limited

Island Carpentry Limited (Registered number: 08055496)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Island Carpentry Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: C Carless
A Lott





SECRETARY:





REGISTERED OFFICE: 16c Sandown Road
Lake
Isle of Wight
PO36 9JP





REGISTERED NUMBER: 08055496 (England and Wales)





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

Island Carpentry Limited (Registered number: 08055496)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,897 5,040

CURRENT ASSETS
Debtors 5 142,764 112,752
Cash at bank 321 250
143,085 113,002
CREDITORS
Amounts falling due within one year 6 113,432 81,650
NET CURRENT ASSETS 29,653 31,352
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,550

36,392

CREDITORS
Amounts falling due after more than one year 7 37,501 40,187
NET LIABILITIES (3,951 ) (3,795 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (3,953 ) (3,797 )
SHAREHOLDERS' FUNDS (3,951 ) (3,795 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Carpentry Limited (Registered number: 08055496)

Balance Sheet - continued
31 May 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 20 February 2025 and were signed on its behalf by:





C Carless - Director


Island Carpentry Limited (Registered number: 08055496)

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

1. STATUTORY INFORMATION

Island Carpentry 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 20,576
DEPRECIATION
At 1 June 2023 15,536
Charge for year 1,143
At 31 May 2024 16,679
NET BOOK VALUE
At 31 May 2024 3,897
At 31 May 2023 5,040

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 142,764 112,752

Island Carpentry Limited (Registered number: 08055496)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 16,434 17,856
Hire purchase contracts - 2,155
Taxation and social security 93,932 59,489
Other creditors 3,066 2,150
113,432 81,650

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Other creditors 37,501 40,187

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
C Carless
Balance outstanding at start of year 56,450 39,035
Amounts advanced 30,214 41,949
Amounts repaid (15,043 ) (24,534 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 71,621 56,450

A Lott
Balance outstanding at start of year 56,302 38,719
Amounts advanced 29,895 30,649
Amounts repaid (15,055 ) (13,066 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 71,142 56,302