IRIS Accounts Production v24.3.2.46 13578347 director 1.9.23 31.8.24 31.8.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh135783472023-08-31135783472024-08-31135783472023-09-012024-08-31135783472022-08-31135783472022-09-012023-08-31135783472023-08-3113578347ns15:EnglandWales2023-09-012024-08-3113578347ns14:PoundSterling2023-09-012024-08-3113578347ns10:Director12023-09-012024-08-3113578347ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3113578347ns10:SmallEntities2023-09-012024-08-3113578347ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3113578347ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3113578347ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3113578347ns10:FullAccounts2023-09-012024-08-3113578347ns10:CompanySecretary12023-09-012024-08-3113578347ns10:RegisteredOffice2023-09-012024-08-3113578347ns5:CurrentFinancialInstruments2024-08-3113578347ns5:CurrentFinancialInstruments2023-08-3113578347ns5:ShareCapital2024-08-3113578347ns5:ShareCapital2023-08-3113578347ns5:RetainedEarningsAccumulatedLosses2024-08-3113578347ns5:RetainedEarningsAccumulatedLosses2023-08-3113578347ns5:PlantMachinery2023-09-012024-08-3113578347ns5:MotorVehicles2023-09-012024-08-3113578347ns5:ComputerEquipment2023-09-012024-08-3113578347ns5:PlantMachinery2023-08-3113578347ns5:MotorVehicles2023-08-3113578347ns5:ComputerEquipment2023-08-3113578347ns5:PlantMachinery2024-08-3113578347ns5:MotorVehicles2024-08-3113578347ns5:ComputerEquipment2024-08-3113578347ns5:PlantMachinery2023-08-3113578347ns5:MotorVehicles2023-08-3113578347ns5:ComputerEquipment2023-08-3113578347ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3113578347ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-31
REGISTERED NUMBER: 13578347 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Isle Contracts Ltd

Isle Contracts Ltd (Registered number: 13578347)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Isle Contracts Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTOR: T Walker





SECRETARY: Mrs S L Walker





REGISTERED OFFICE: Gatcombe House
Copnor Road
Portsmouth
Hampshire
PO3 5EJ





REGISTERED NUMBER: 13578347 (England and Wales)





ACCOUNTANTS: Tropman & Co Limited
39 Station Road
Liphook
Hampshire
GU30 7DW

Isle Contracts Ltd (Registered number: 13578347)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,765 9,554

CURRENT ASSETS
Stocks 2,150 6,760
Debtors 5 16,705 50,813
Cash at bank 33,466 356
52,321 57,929
CREDITORS
Amounts falling due within one year 6 37,419 23,917
NET CURRENT ASSETS 14,902 34,012
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,667

43,566

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 22,665 43,564
22,667 43,566

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 21 January 2025 and were signed by:





T Walker - Director


Isle Contracts Ltd (Registered number: 13578347)

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

1. STATUTORY INFORMATION

Isle Contracts Ltd 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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer & office equipment - 20% on cost

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.

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.

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.

Isle Contracts Ltd (Registered number: 13578347)

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

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Computer
Plant and Motor & office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023 2,170 12,833 500 15,503
Additions - - 660 660
At 31 August 2024 2,170 12,833 1,160 16,163
DEPRECIATION
At 1 September 2023 1,085 4,708 156 5,949
Charge for year 170 2,032 247 2,449
At 31 August 2024 1,255 6,740 403 8,398
NET BOOK VALUE
At 31 August 2024 915 6,093 757 7,765
At 31 August 2023 1,085 8,125 344 9,554

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 14,265 39,377
Tax 2,119 11,436
VAT 321 -
16,705 50,813

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts - 7,555
Trade creditors 6,223 1,935
Tax 10,590 6,796
Social security and other taxes 885 977
VAT - 4,718
Other creditors 17,921 136
Accrued expenses 1,800 1,800
37,419 23,917