Company registration number: 09297611
Unaudited financial statements
for the year ended 31 December 2024
for
Island Property LTD
Pages for filing with the Registrar
Company registration number: 09297611
Island Property LTD
Balance sheet
as at 31 December 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 658,500 658,500
658,500 658,500
Total assets less current liabilities 658,500 658,500
Creditors: Amounts falling due after more
than one year
(20,000) (20,000)
NET ASSETS 638,500 638,500
Capital and reserves
Called up share capital 638,500 638,500
TOTAL EQUITY 638,500 638,500
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 December 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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 Profit and loss account has not been delivered to the Registrar.
Signed by:
Mr L Pietrobelli, Director
18 June 2025
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Island Property LTD
Notes to the financial statements
for the year ended 31 December 2024
1 Company information
Island Property LTD is a private company registered in England and Wales. Its registered number is 09297611. The company is limited by shares. Its registered office is ********.
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 historic cost convention.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings:
Freehold property - The company's properties are held for long-term
investment an are included in the Balance Sheet at
their open market values. The surplus or deficit on
annual revaluation of such properties is transferred to
the revaluation reserve. Depreciation is not provided in
respect of land and building.

The policy represents a departure from statutory
accounting principles, which require depreciation to be
provided on all fixed assets. The director considers that
this policy is necessary in order that the accounts may
give a true and fair view because current values and
changes in current values are prime importance rather
than the calculation of systematic annual depreciation.
Depreciation is only one of many factors reflected in the
annual valuation and the amount which might otherwise
have been shown cannot be separately identified or
quantified.
3 Average number of employees
During the year the average number of employees was Nil (2023 - Nil).
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Island Property LTD
Notes to the financial statements - continued
for the year ended 31 December 2024
4 Tangible fixed assets
Land and
buildings
£
Cost
At 1 January 2024 658,500
At 31 December 2024 658,500
Depreciation
At 31 December 2024 -
Net book value
At 31 December 2024 658,500
At 31 December 2023 658,500
If Freehold property had not been revalued, Freehold property would have been included at the following historical cost:
2024 2023
£ £
Cost 658,500 658,500
Accumulated depreciation 65,800 65,800
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