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Registered number: 15416563
Island Property Portfolios Ltd
Financial Statements
For the Period 16 January 2024 to 31 January 2025
Apple Accountancy Limited
Chartered Certified Accountants
5 Holyrood Street
Newport
Isle of Wight
PO30 5AU
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of Island Property Portfolios Ltd For the Period 16 January 2024 to 31 January 2025
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Island Property Portfolios Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Island Property Portfolios Ltd , as a body, in accordance with the terms of our engagement letter dated 21 June 2024. Our work has been undertaken solely to prepare for your approval the accounts of Island Property Portfolios Ltd and state those matters that we have agreed to state to the director of Island Property Portfolios Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Island Property Portfolios Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Island Property Portfolios Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Island Property Portfolios Ltd . You consider that Island Property Portfolios Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Island Property Portfolios Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
2nd July 2025
Apple Accountancy Limited
Chartered Certified Accountants
5 Holyrood Street
Newport
Isle of Wight
PO30 5AU
Page 1
Page 2
Balance Sheet
Registered number: 15416563
31 January 2025
Notes £ £
FIXED ASSETS
Tangible Assets 4 585,326
585,326
CURRENT ASSETS
Cash at bank and in hand 1,375
1,375
Creditors: Amounts Falling Due Within One Year (472,570 )
NET CURRENT ASSETS (LIABILITIES) (471,195 )
TOTAL ASSETS LESS CURRENT LIABILITIES 114,131
Creditors: Amounts Falling Due After More Than One Year (134,714 )
NET LIABILITIES (20,583 )
CAPITAL AND RESERVES
Called up share capital 5 1
Profit and Loss Account (20,584 )
SHAREHOLDERS' FUNDS (20,583)
Page 2
Page 3
For the period ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Michelle Parsons
Director
8th August 2025
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Island Property Portfolios Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 15416563 . The registered office is 5 Holyrood Street, Newport, Isle of Wight, PO30 5AU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not depreciated
Plant & Machinery 25% Reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2
2
Page 4
Page 5
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 16 January 2024 - - -
Additions 578,576 9,000 587,576
As at 31 January 2025 578,576 9,000 587,576
Depreciation
As at 16 January 2024 - - -
Provided during the period - 2,250 2,250
As at 31 January 2025 - 2,250 2,250
Net Book Value
As at 31 January 2025 578,576 6,750 585,326
As at 16 January 2024 - - -
5. Share Capital
31 January 2025
Allotted, called up and fully paid £
1 Ordinary Shares of £ 1.00 each 1
Shares issued during the period: £
1 Ordinary Shares of £ 1.00 each 1
Page 5