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REGISTERED NUMBER: 09240218 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31st December 2024

for

The Island Residential Home Limited

The Island Residential Home Limited (Registered number: 09240218)






Contents of the Financial Statements
for the Year Ended 31st December 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


The Island Residential Home Limited (Registered number: 09240218)

Balance Sheet
31st December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 274,775 323,100

CURRENT ASSETS
Debtors 6 442,626 416,129
Cash at bank and in hand 240,726 145,218
683,352 561,347
CREDITORS
Amounts falling due within one year 7 464,518 520,964
NET CURRENT ASSETS 218,834 40,383
TOTAL ASSETS LESS CURRENT
LIABILITIES

493,609

363,483

CREDITORS
Amounts falling due after more than one
year

8

(32,294

)

(39,768

)

PROVISIONS FOR LIABILITIES (21,836 ) (7,185 )
NET ASSETS 439,479 316,530

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 439,379 316,430
SHAREHOLDERS' FUNDS 439,479 316,530

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 Island Residential Home Limited (Registered number: 09240218)

Balance Sheet - continued
31st 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 7th August 2025 and were signed by:





Mr G S Pawar - Director


The Island Residential Home Limited (Registered number: 09240218)

Notes to the Financial Statements
for the Year Ended 31st December 2024

1. STATUTORY INFORMATION

The Island Residential Home Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09240218

Registered office: Kings Lodge
London Road
West Kingsdown
Sevenoaks
Kent
TN15 6AR

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

The Company has impaired the acquired goodwill in its entirety in the period based on an assessment of financial performance, re-investment and a change of management.

The Island Residential Home Limited (Registered number: 09240218)

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

3. ACCOUNTING POLICIES - continued

Revenue recognition
Sales comprise the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities as follows:

Revenue from the sale of services is recognised at the point at which those services have been provided to the customer. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to leasehold property - 20% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Government grants
Grants are classified either as a grant relating to revenue or a grant relating to assets. Grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support with no future related costs is recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred it is recognised as deferred income and not deducted from the carrying amount of the asset.

The Island Residential Home Limited (Registered number: 09240218)

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

3. ACCOUNTING POLICIES - continued

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


The Island Residential Home Limited (Registered number: 09240218)

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

3. 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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 54 (2023 - 41 ) .

5. TANGIBLE FIXED ASSETS
Improvements
to Fixtures
leasehold Plant and and
property machinery fittings
£    £    £   
COST
At 1st January 2024 563,509 33,230 102,063
Additions 40,139 18,600 57,094
Disposals (101,501 ) - -
At 31st December 2024 502,147 51,830 159,157
DEPRECIATION
At 1st January 2024 291,745 18,706 77,168
Charge for year 45,565 7,506 17,510
Eliminated on disposal (2,962 ) - -
At 31st December 2024 334,348 26,212 94,678
NET BOOK VALUE
At 31st December 2024 167,799 25,618 64,479
At 31st December 2023 271,764 14,524 24,895

The Island Residential Home Limited (Registered number: 09240218)

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

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st January 2024 13,695 23,013 735,510
Additions - 10,343 126,176
Disposals - - (101,501 )
At 31st December 2024 13,695 33,356 760,185
DEPRECIATION
At 1st January 2024 11,257 13,534 412,410
Charge for year 609 4,772 75,962
Eliminated on disposal - - (2,962 )
At 31st December 2024 11,866 18,306 485,410
NET BOOK VALUE
At 31st December 2024 1,829 15,050 274,775
At 31st December 2023 2,438 9,479 323,100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 379,265 337,365
Other debtors - 20,008
Loan owed by related parties 52,476 51,976
Prepayments 10,885 6,780
442,626 416,129

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,763 9,536
Trade creditors 5,621 82,611
Tax 41,011 81,194
Social security and other taxes 9,777 3,057
Other creditors - 39,487
Company credit card 3,387 7,140
Payments due to pensions 3,284 2,654
Loans with related parties 307,605 64,690
Directors' current accounts - 159,000
Deferred income 83,370 71,595
Accrued expenses 700 -
464,518 520,964

The Island Residential Home Limited (Registered number: 09240218)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 8,174 9,763
Bank loans - 2-5 years 24,120 30,005
32,294 39,768