0 0 Island Ropes & Rigging Limited 11338872 false 2025-04-01 2026-03-31 2026-03-31 The principal activity of the company is Rope & rigging manufacture Digita Accounts Production Advanced 6.30.9574.0 true 11338872 2025-04-01 2026-03-31 11338872 2026-03-31 11338872 bus:OrdinaryShareClass1 2026-03-31 11338872 core:CurrentFinancialInstruments 2026-03-31 11338872 core:CurrentFinancialInstruments core:WithinOneYear 2026-03-31 11338872 core:PlantMachinery 2026-03-31 11338872 bus:FRS102 2025-04-01 2026-03-31 11338872 bus:AuditExemptWithAccountantsReport 2025-04-01 2026-03-31 11338872 bus:FullAccounts 2025-04-01 2026-03-31 11338872 bus:RegisteredOffice 2025-04-01 2026-03-31 11338872 bus:Director1 2025-04-01 2026-03-31 11338872 bus:Director2 2025-04-01 2026-03-31 11338872 bus:OrdinaryShareClass1 2025-04-01 2026-03-31 11338872 bus:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 11338872 bus:Agent1 2025-04-01 2026-03-31 11338872 1 2025-04-01 2026-03-31 11338872 2 2025-04-01 2026-03-31 11338872 core:PlantMachinery 2025-04-01 2026-03-31 11338872 core:UKTax 2025-04-01 2026-03-31 11338872 countries:EnglandWales 2025-04-01 2026-03-31 11338872 2025-03-31 11338872 core:PlantMachinery 2025-03-31 11338872 2024-04-01 2025-03-31 11338872 2025-03-31 11338872 bus:OrdinaryShareClass1 2025-03-31 11338872 core:CurrentFinancialInstruments 2025-03-31 11338872 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 11338872 core:PlantMachinery 2025-03-31 11338872 1 2024-04-01 2025-03-31 11338872 2 2024-04-01 2025-03-31 11338872 core:UKTax 2024-04-01 2025-03-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 11338872

Island Ropes & Rigging Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 March 2026

Island Ropes & Rigging Limited

Contents

Company Information | 1
Directors' Report | 2
Accountants' Report | 3
Profit and Loss Account | 4
Balance Sheet | 5
Notes to the Unaudited Financial Statements | 6 to 11

Island Ropes & Rigging Limited

Company Information

Directors | Mr James Graham Martin Mr Steven Mark Hayman

Registered office | The Old Dairy Ashton Hill Farm Weston Road Failand Bristol Avon United Kingdom BS8 3UZ

Accountants | R S Porter & Co Limited The Old Dairy Ashton Hill Farm Weston Road, Failand Bristol BS8 3US

Island Ropes & Rigging Limited

Directors' Report for the Year Ended 31 March 2026

The directors present their report and the financial statements for the year ended 31 March 2026.

Directors of the company

The directors who held office during the year were as follows:

Mr James Graham Martin

Mr Steven Mark Hayman

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved and authorised by the Board on 21 April 2026 and signed on its behalf by:

......................................... Mr James Graham Martin Director

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Island Ropes & Rigging Limited
for the Year Ended 31 March 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Island Ropes & Rigging Limited for the year ended 31 March 2026 as set out on pages 4 to 11 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 at
http://www.icaew.com/regulation.

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

It is your duty to ensure that Island Ropes & Rigging Limited 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 of Island Ropes & Rigging Limited. You consider that Island Ropes & Rigging 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 accounts of Island Ropes & Rigging 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 accounts.

......................................
R S Porter & Co Limited
The Old Dairy
Ashton Hill Farm
Weston Road, Failand
Bristol
BS8 3US

21 April 2026

Island Ropes & Rigging Limited

Profit and Loss Account for the Year Ended 31 March 2026

| Note | 2026 £ | 2025 £
Turnover | 3 | 1,528,051 | 1,302,142
Cost of sales |  | (1,001,379) | (981,789)
Gross profit |  | 526,672 | 320,353
Administrative expenses |  | (419,568) | (359,203)
Operating profit/(loss) |  | 107,104 | (38,850)
Interest payable and similar expenses | 4 | (9,660) | 296
Profit/(loss) before tax |  | 97,444 | (38,554)
Tax on profit/(loss) | 7 | (47) | -
Profit/(loss) for the financial year |  | 97,397 | (38,554)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

Island Ropes & Rigging Limited

(Registration number: 11338872)
Balance Sheet as at 31 March 2026

| Note | 2026 £ | 2025 £
Fixed assets |  |  |
Tangible assets | 8 | 22,212 | 11,100
Current assets |  |  |
Stocks | 9 | 184,029 | 158,895
Debtors | 10 | 182,682 | 192,955
Cash at bank and in hand |  | 111,572 | 28,675
|  | 478,283 | 380,525
Creditors: Amounts falling due within one year | 12 | (482,726) | (471,253)
Net current liabilities |  | (4,443) | (90,728)
Net assets/(liabilities) |  | 17,769 | (79,628)
Capital and reserves |  |  |
Called up share capital |  | 1,000 | 1,000
Retained earnings |  | 16,769 | (80,628)
Shareholders' funds/(deficit) |  | 17,769 | (79,628)

For the financial year ending 31 March 2026 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 21 April 2026 and signed on its behalf by:

......................................... Mr James Graham Martin Director

Island Ropes & Rigging Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

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:
The Old Dairy
Ashton Hill Farm Weston Road
Failand
Bristol
Avon
BS8 3UZ
United Kingdom

These financial statements were authorised for issue by the Board on 21 April 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.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Island Ropes & Rigging Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Tax

The tax expense for the period comprises current 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.

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
Plant and machinery | 25% reducing balance

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.

Trade 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.

Stocks

Stocks 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, stocks are assessed for impairment. If stocks 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.

Island Ropes & Rigging Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Trade 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 | Turnover

The analysis of the company's turnover for the year from continuing operations is as follows:

| 2026 £ | 2025 £
Sale of goods | 1,527,324 | 1,302,042
Interest received | 227 | 100
Grants received | 500 | -
| 1,528,051 | 1,302,142

4 | Interest payable and similar expenses

| 2026 £ | 2025 £
Interest expense on other finance liabilities | 7,000 | -
Foreign exchange gains/(losses) | 2,660 | (296)
| 9,660 | (296)

Island Ropes & Rigging Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

5 | Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

| 2026 £ | 2025 £
Wages and salaries | 277,685 | 234,506
Social security costs | 31,753 | 20,922
Pension costs, defined contribution scheme | 10,291 | 13,466
Other employee expense | 939 | -
| 320,668 | 268,894

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

| 2026 No. | 2025 No.

6 | Directors' remuneration

The directors' remuneration for the year was as follows:

| 2026 £ | 2025 £
Remuneration | 40,000 | -

7 | Taxation

Tax charged/(credited) in the profit and loss account

| 2026 £ | 2025 £
Current taxation |  |
UK corporation tax | 47 | -

Island Ropes & Rigging Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

8 | Tangible assets

| Plant and machinery £ | Total £
Cost or valuation
At 1 April 2025 | 25,275 | 25,275
Additions | 16,665 | 16,665
At 31 March 2026 | 41,940 | 41,940
Depreciation
At 1 April 2025 | 14,175 | 14,175
Charge for the year | 5,553 | 5,553
At 31 March 2026 | 19,728 | 19,728
Carrying amount
At 31 March 2026 | 22,212 | 22,212
At 31 March 2025 | 11,100 | 11,100

9 | Stocks

| 2026 £ | 2025 £
Other inventories | 184,029 | 158,895

10 | Debtors

Current | 2026 £ | 2025 £
Trade debtors | 182,682 | 192,955
| 182,682 | 192,955

11 | Cash and cash equivalents

| 2026 £ | 2025 £
Cash on hand | 917 | 917
Cash at bank | 110,655 | 27,758
| 111,572 | 28,675

Island Ropes & Rigging Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

12 | Creditors

| Note | 2026 £ | 2025 £
Due within one year |  |  |
Trade creditors |  | 251,289 | 249,144
Amounts due to related parties |  | 205,900 | 199,000
Social security and other taxes |  | 25,490 | 22,424
Accruals |  | - | 685
Income tax liability | 7 | 47 | -
|  | 482,726 | 471,253

13 | Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £10,291 (2025 - £13,466).

14 | Share capital

Allotted, called up and fully paid shares

| 2026 | 2025
| No. | £ | No. | £
Ordinary of £1 each | 1,000 | 1,000 | 1,000 | 1,000