Registration number: 09013502

Funder Island Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8

Funder Island Ltd

Company Information

Directors

Mrs K J Holland Mr G Holland

Registered office

2 Lime Court Pathfields Business Park South Molton Devon EX36 3LH

Accountants

Ward and Co Chartered Accountants West Penhill Farm Fremington Barnstaple Devon EX31 2NG

Funder Island Ltd

(Registration number: 09013502)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	53,646	59,608
Tangible assets	5	52,514	72,824
		106,160	132,432
Current assets
Stock	6	150	150
Debtors	7	1,955	1,387
Cash at bank and in hand		139,939	152,334
		142,044	153,871
Creditors: Amounts falling due within one year	8	(29,584)	(44,980)
Net current assets		112,460	108,891
Total assets less current liabilities		218,620	241,323
Provisions for liabilities		(13,128)	(18,206)
Net assets		205,492	223,117
Capital and reserves
Called up share capital		100	100
Retained earnings		205,392	223,017
Shareholders' funds		205,492	223,117

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 December 2025 and signed on its behalf by:
 

......................................... Mr G Holland Director

Funder Island Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Lime Court
Pathfields Business Park
South Molton
Devon
EX36 3LH
England

These financial statements were authorised for issue by the Board on 31 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, 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 specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Funder Island Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Leasehold properties	Straight line over the life of the lease
Plant and machinery	Straight line over 8 years or over the life of the lease
Motor vehicles	Straight line over 4 years

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	Stright line over 20 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Funder Island Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Stock

Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stock are assessed for impairment. If stock are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2024 - 3).

Funder Island Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	119,228	119,228
At 31 March 2025	119,228	119,228
Amortisation
At 1 April 2024	59,620	59,620
Amortisation charge	5,962	5,962
At 31 March 2025	65,582	65,582
Carrying amount
At 31 March 2025	53,646	53,646
At 31 March 2024	59,608	59,608

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	7,527	164,007	53,015	224,549
Additions	-	4,457	-	4,457
At 31 March 2025	7,527	168,464	53,015	229,006
Depreciation
At 1 April 2024	-	162,252	13,254	175,506
Charge for the year	-	8,387	13,254	21,641
Eliminated on disposal	-	(20,655)	-	(20,655)
At 31 March 2025	-	149,984	26,508	176,492
Carrying amount
At 31 March 2025	7,527	18,480	26,507	52,514
At 31 March 2024	7,527	25,536	39,761	72,824

Included within the net book value of land and buildings above is £7,527 (2024 - £7,527) in respect of long leasehold land and buildings.
 

Funder Island Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Stock

	2025 £	2024 £
Other inventories	150	150

7

Debtors

Current	Note	2025 £	2024 £
Amounts owed by related parties	9	434	327
Prepayments		1,521	848
Other debtors		-	212
		1,955	1,387

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Taxation and social security	13,671	33,628
Accruals and deferred income	1,990	1,835
Other creditors	13,923	9,517
	29,584	44,980

9	Related party transactions

Funder Island Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Summary of transactions with parent

The company's parent is Funder Island Holdings Limited, a company incorporated in England and Wales.

Loans to related parties

2025	Parent £	Total £
At start of period	327	327
Advanced	130,107	130,107
Repaid	(130,000)	(130,000)
At end of period	434	434

2024	Parent £	Total £
At start of period	334	334
Advanced	67,993	67,993
Repaid	(68,000)	(68,000)
At end of period	327	327