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Registration number: 12452655

Island House Restoration Ltd
Annual Report and Unaudited Financial Statements
for the Year Ended 31 March 2025

Island House Restoration Ltd

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 to 6

Island House Restoration Ltd

Company Information

Directors | Mr P Bond Mr S C Kirkwood

Registered office | Globe House Market Street Laugharne Carmarthen SA33 4SA

Island House Restoration Ltd

(Registration number: 12452655)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 5 | 1,998,465 | 1,920,808
Current assets |  |  |
Debtors | 6 | 51,563 | 1,691
Cash at bank and in hand |  | 15,134 | 65,494
|  | 66,697 | 67,185
Creditors: Amounts falling due within one year | 7 | (2,857,104) | (2,673,432)
Net current liabilities |  | (2,790,407) | (2,606,247)
Net liabilities |  | (791,942) | (685,439)
Capital and reserves |  |  |
Called up share capital |  | 1,000 | 1,000
Profit and loss account |  | (792,942) | (686,439)
Total equity |  | (791,942) | (685,439)

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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 9 March 2026 and signed on its behalf by:

......................................... Mr P Bond Director | ......................................... Mr S C Kirkwood Director |

Island House Restoration Ltd

Notes to the 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:
Globe House
Market Street
Laugharne
Carmarthen
SA33 4SA

These financial statements were authorised for issue by the Board on 9 March 2026.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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
Office equipment | Variable rates at reducing balance
Plant and equipment | 20% straight line

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.

Island House Restoration Ltd

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

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4 | Loss before tax

Arrived at after charging/(crediting)

| 2025 £ | 2024 £
Depreciation expense | 3,496 | 2,557

Island House Restoration Ltd

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

5 | Tangible assets

| Land and buildings £ | Plant and machinery £ | Office equipment £ | Total £
Cost or valuation
At 1 April 2024 | 1,907,375 | 12,732 | 6,935 | 1,927,042
Additions | 81,154 | - | - | 81,154
At 31 March 2025 | 1,988,529 | 12,732 | 6,935 | 2,008,196
Depreciation
At 1 April 2024 | - | 947 | 5,287 | 6,234
Charge for the year | - | 2,547 | 950 | 3,497
At 31 March 2025 | - | 3,494 | 6,237 | 9,731
Carrying amount
At 31 March 2025 | 1,988,529 | 9,238 | 698 | 1,998,465
At 31 March 2024 | 1,907,375 | 11,785 | 1,648 | 1,920,808

Included within the net book value of land and buildings above is £1,988,529 (2024 - £1,907,375) in respect of freehold land and buildings.

6 | Debtors

| Note | 2025 £ | 2024 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 9 | 19,779 | -
Other debtors |  | 31,784 | 1,691
|  | 51,563 | 1,691

Island House Restoration Ltd

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

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Trade creditors |  | 2,478 | 16,044
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 9 | 2,080,000 | 1,882,862
Directors' loan accounts | 9 | 773,026 | 773,026
Other creditors |  | 1,600 | 1,500
|  | 2,857,104 | 2,673,432

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary of £1 each | 1,000 | 1,000 | 1,000 | 1,000

9 | Related party transactions

As at the balance sheet date, the following amounts were owed by the company to the directors:
Mr P Bond: £772,625 (2024: £772,625)
Mr S C Kirkwood: £402 (2024: £402)

Summary of transactions with entities with joint control or significant interest

Sancler 3 Ltd and Salem Construction Ltd is considered to be a related party of the entity by virtue of common control.
As at the balance sheet date the entity owed a balance of £2,080,000 (2024 : £1,880,000) to Sancler 3 Ltd and was owed £19,779 (2024 : (£2,862)) from Salem Construction Ltd.