Island Car Centre Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08754512 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

FOR

ISLAND CAR CENTRE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

J W Nicholls

Mrs A Nicholls

SECRETARY:

REGISTERED OFFICE:

East Quay

Kite Hill

Wootton Hill

Isle of Wight

PO33 4LA

REGISTERED NUMBER:

08754512 (England and Wales)

ACCOUNTANTS:

Harrison Black Limited

East Quay

Kite Hill

Wootton Bridge

Isle of Wight

PO33 4LA

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

996,968

1,010,906

996,968

1,010,906

CURRENT ASSETS

Stocks

2,556,876

2,261,772

Debtors

6

81,375

165,092

Cash at bank

291,989

266,876

2,930,240

2,693,740

CREDITORS

Amounts falling due within one year

7

345,066

245,839

NET CURRENT ASSETS

2,585,174

2,447,901

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,582,142

3,458,807

CREDITORS

Amounts falling due after more than one
year

8

799,408

865,739

NET ASSETS

2,782,734

2,593,068

CAPITAL AND RESERVES

Called up share capital

90

Retained earnings

2,782,644

2,592,978

SHAREHOLDERS' FUNDS

2,782,734

2,593,068

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 January 2026 and were signed on its behalf by:

J W Nicholls - Director

1.	STATUTORY INFORMATION

Island Car Centre Limited 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on reducing balance and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2024 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2024

and 30 April 2025

140,000

AMORTISATION

At 1 May 2024

and 30 April 2025

140,000

NET BOOK VALUE

At 30 April 2025

-

At 30 April 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 May 2024

and 30 April 2025

941,216

221,533

1,162,749

DEPRECIATION

At 1 May 2024

-

151,843

Charge for year

-

13,938

At 30 April 2025

-

165,781

NET BOOK VALUE

At 30 April 2025

941,216

55,752

996,968

At 30 April 2024

941,216

69,690

1,010,906

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

81,375

65,125

Other debtors

-

99,967

81,375

165,092

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

86,691

Trade creditors

39,953

37,917

Taxation and social security

168,251

121,231

Other creditors

50,171

-

345,066

245,839

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Bank loans

497,892

562,480

Other creditors

301,516

303,259

799,408

865,739

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

497,892

562,480

9.	ULTIMATE CONTROLLING PARTY

Mr J W Nicholls & Mrs A J Nicholls control the company by virtue of their ownership of 100% of the issued ordinary share capital.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Island Car Centre Limited for the year ended 30 April 2025 which comprise the Income Statement, 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 firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Island Car Centre Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Island Car Centre Limited and state those matters that we have agreed to state to the Board of Directors of Island Car Centre Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Island Car Centre Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Island Car Centre Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Island Car Centre Limited. You consider that Island Car Centre Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Island Car Centre Limited. 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 statutory financial statements.

Harrison Black Limited

East Quay

Kite Hill

Wootton Bridge

Isle of Wight

PO33 4LA

Date: .............................................