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REGISTERED NUMBER: 00863266 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ISLAND MOBILITY LIMITED

ISLAND MOBILITY LIMITED (REGISTERED NUMBER: 00863266)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


ISLAND MOBILITY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: R G Horton
M Horton
Mrs J D Horton
A K Horton





SECRETARY: Miss K E Hawkins





REGISTERED OFFICE: 32 Dodnor Lane
Newport
Isle of Wight
PO30 5XA





REGISTERED NUMBER: 00863266 (England and Wales)





ACCOUNTANTS: Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ

ISLAND MOBILITY LIMITED (REGISTERED NUMBER: 00863266)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 234,203 226,729
234,203 226,729

CURRENT ASSETS
Stocks 133,836 136,131
Debtors 6 31,360 34,286
Cash at bank and in hand 107,443 23,022
272,639 193,439
CREDITORS
Amounts falling due within one year 7 88,548 66,916
NET CURRENT ASSETS 184,091 126,523
TOTAL ASSETS LESS CURRENT LIABILITIES 418,294 353,252

PROVISIONS FOR LIABILITIES 15,935 15,653
NET ASSETS 402,359 337,599

CAPITAL AND RESERVES
Called up share capital 1,504 1,504
Retained earnings 400,855 336,095
402,359 337,599

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 MOBILITY LIMITED (REGISTERED NUMBER: 00863266)

BALANCE SHEET - continued
31 DECEMBER 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 27 March 2025 and were signed on its behalf by:





R G Horton - Director


ISLAND MOBILITY LIMITED (REGISTERED NUMBER: 00863266)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Island Mobility 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.

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.
Land and buildings - Over the period of the lease
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


ISLAND MOBILITY LIMITED (REGISTERED NUMBER: 00863266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued
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.

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 12 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 75,000
AMORTISATION
At 1 January 2024
and 31 December 2024 75,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

Goodwill has been written off in equal annual instalments over its estimated economic life of 5 years.

ISLAND MOBILITY LIMITED (REGISTERED NUMBER: 00863266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 159,196 619,050 778,246
Additions 3,400 51,644 55,044
Disposals - (17,400 ) (17,400 )
At 31 December 2024 162,596 653,294 815,890
DEPRECIATION
At 1 January 2024 47,015 504,502 551,517
Charge for year 6,504 40,163 46,667
Eliminated on disposal - (16,497 ) (16,497 )
At 31 December 2024 53,519 528,168 581,687
NET BOOK VALUE
At 31 December 2024 109,077 125,126 234,203
At 31 December 2023 112,181 114,548 226,729

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 20,821 19,111
Other debtors 10,539 15,175
31,360 34,286

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Payments on account 48,515 21,533
Trade creditors 6,871 13,107
Taxation and social security 30,047 3,363
Other creditors 3,115 28,913
88,548 66,916

ISLAND MOBILITY LIMITED (REGISTERED NUMBER: 00863266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
R G Horton and Mrs J D Horton
Balance outstanding at start of year (17,245 ) (2,576 )
Amounts advanced 27,953 331
Amounts repaid (10,000 ) (15,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 708 (17,245 )

M Horton
Balance outstanding at start of year - -
Amounts advanced 215 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 215 -

A K Horton
Balance outstanding at start of year - -
Amounts advanced 228 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 228 -