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REGISTERED NUMBER: 03087085 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

ISLAND BUSINESS SOLUTIONS LTD

ISLAND BUSINESS SOLUTIONS LTD (REGISTERED NUMBER: 03087085)

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










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


ISLAND BUSINESS SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: Mr O Mohamedali





SECRETARY: Mrs S Mohamedali





REGISTERED OFFICE: 6 Old Mead
Chalfont St Peter
Gerrards Cross
Buckinghamshire
SL9 0SE





REGISTERED NUMBER: 03087085 (England and Wales)






ISLAND BUSINESS SOLUTIONS LTD (REGISTERED NUMBER: 03087085)

ABRIDGED BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 178,199 -
Investments 5 - 214,183
Investment property 6 47,702 47,702
225,901 261,885

CURRENT ASSETS
Debtors 42,999 18,744
Prepayments and accrued income 2,327 1,425
Cash at bank 95,524 72,108
140,850 92,277
CREDITORS
Amounts falling due within one year (3,087 ) (906 )
NET CURRENT ASSETS 137,763 91,371
TOTAL ASSETS LESS CURRENT
LIABILITIES

363,664

353,256

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 363,663 353,255
SHAREHOLDERS' FUNDS 363,664 353,256

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.

ISLAND BUSINESS SOLUTIONS LTD (REGISTERED NUMBER: 03087085)

ABRIDGED BALANCE SHEET - continued
31 AUGUST 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 5 May 2025 and were signed by:





Mr O Mohamedali - Director


ISLAND BUSINESS SOLUTIONS LTD (REGISTERED NUMBER: 03087085)

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


1. STATUTORY INFORMATION

Island Business Solutions 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.
Computer equipment - 50% on cost

INVESTMENT PROPERTY
Investment property is held to earn rentals and/or capital appreciation is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in the income statement.

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.

BASIS OF CONSOLIDATION
In the Group's financial statements investments in joint venture is recognised at cost using the equity method of accounting. Subsequent to acquisition, the carrying value of the Group's investment in joint venture includes the Groups's share of post-acquisition reserves less any impairment in the value of individual assets. The consolidated profit and loss account reflects the Group's share of the results of operations of the joint venture.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

ISLAND BUSINESS SOLUTIONS LTD (REGISTERED NUMBER: 03087085)

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


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2023 1,004
Additions 178,199
At 31 August 2024 179,203
DEPRECIATION
At 1 September 2023
and 31 August 2024 1,004
NET BOOK VALUE
At 31 August 2024 178,199
At 31 August 2023 -

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 September 2023 214,183
Transfers from parent company (214,183 )
At 31 August 2024 -
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 214,183

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 47,702
NET BOOK VALUE
At 31 August 2024 47,702
At 31 August 2023 47,702

ISLAND BUSINESS SOLUTIONS LTD (REGISTERED NUMBER: 03087085)

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


7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1.00 1 1