Company registration number 15269775 (England and Wales)
ISLAND OUTBOARD SERVICES (IOS) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
PAGES FOR FILING WITH REGISTRAR
ISLAND OUTBOARD SERVICES (IOS) LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
ISLAND OUTBOARD SERVICES (IOS) LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2025
30 November 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
279,654
312,554
Tangible assets
4
101,071
45,229
380,725
357,783
Current assets
Stocks
92,930
87,151
Debtors
5
20,850
80,625
Cash at bank and in hand
47,465
62,057
161,245
229,833
Creditors: amounts falling due within one year
6
(210,905)
(177,664)
Net current (liabilities)/assets
(49,660)
52,169
Total assets less current liabilities
331,065
409,952
Creditors: amounts falling due after more than one year
7
(234,600)
(330,000)
Provisions for liabilities
(14,516)
(11,307)
Net assets
81,949
68,645
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
81,849
68,545
Total equity
81,949
68,645

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

ISLAND OUTBOARD SERVICES (IOS) LTD
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2025
30 November 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 17 April 2026 and are signed on its behalf by:
Miss A E Carpenter
Mr O J Glenn
Director
Director
Company Registration No. 15269775
ISLAND OUTBOARD SERVICES (IOS) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 3 -
1
Accounting policies
Company information

Island Outboard Services (IOS) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Porthloo Workshop, St Mary's, Isles of Scilly, TR21 0NE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value

1.2
Going concern

A t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

ISLAND OUTBOARD SERVICES (IOS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
0%
Plant and equipment
20% reducing balance
Fixtures and fittings
20% reducing balance
Computers
20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

ISLAND OUTBOARD SERVICES (IOS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 5 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

ISLAND OUTBOARD SERVICES (IOS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
3
Intangible fixed assets
Goodwill
£
Cost
At 1 December 2024 and 30 November 2025
329,004
Amortisation and impairment
At 1 December 2024
16,450
Amortisation charged for the year
32,900
At 30 November 2025
49,350
Carrying amount
At 30 November 2025
279,654
At 30 November 2024
312,554
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 December 2024
-
0
47,983
47,983
Additions
47,648
19,523
67,171
At 30 November 2025
47,648
67,506
115,154
Depreciation and impairment
At 1 December 2024
-
0
2,754
2,754
Depreciation charged in the year
-
0
11,329
11,329
At 30 November 2025
-
0
14,083
14,083
Carrying amount
At 30 November 2025
47,648
53,423
101,071
At 30 November 2024
-
0
45,229
45,229
ISLAND OUTBOARD SERVICES (IOS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 7 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
15,825
76,220
Other debtors
5,025
4,405
20,850
80,625
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
2,874
10,416
Corporation tax
8,902
20,201
Other taxation and social security
7,341
4,448
Other creditors
191,788
142,599
210,905
177,664
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
234,600
330,000
2025-11-30 2024-12-01 false false false 17 April 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity Miss A E Carpenter Mr O J Glenn 15269775 2024-12-01 2025-11-30 15269775 2025-11-30 15269775 2024-11-30 15269775 core:NetGoodwill 2025-11-30 15269775 core:NetGoodwill 2024-11-30 15269775 core:LandBuildings 2025-11-30 15269775 core:OtherPropertyPlantEquipment 2025-11-30 15269775 core:LandBuildings 2024-11-30 15269775 core:OtherPropertyPlantEquipment 2024-11-30 15269775 core:CurrentFinancialInstruments core:WithinOneYear 2025-11-30 15269775 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 15269775 core:Non-currentFinancialInstruments core:AfterOneYear 2025-11-30 15269775 core:Non-currentFinancialInstruments core:AfterOneYear 2024-11-30 15269775 core:CurrentFinancialInstruments 2025-11-30 15269775 core:CurrentFinancialInstruments 2024-11-30 15269775 core:ShareCapital 2025-11-30 15269775 core:ShareCapital 2024-11-30 15269775 core:RetainedEarningsAccumulatedLosses 2025-11-30 15269775 core:RetainedEarningsAccumulatedLosses 2024-11-30 15269775 bus:Director1 2024-12-01 2025-11-30 15269775 bus:Director2 2024-12-01 2025-11-30 15269775 core:Goodwill 2024-12-01 2025-11-30 15269775 core:LandBuildings core:OwnedOrFreeholdAssets 2024-12-01 2025-11-30 15269775 core:PlantMachinery 2024-12-01 2025-11-30 15269775 core:FurnitureFittings 2024-12-01 2025-11-30 15269775 core:ComputerEquipment 2024-12-01 2025-11-30 15269775 2023-11-08 2024-11-30 15269775 core:NetGoodwill 2024-11-30 15269775 core:NetGoodwill 2024-12-01 2025-11-30 15269775 core:LandBuildings 2024-11-30 15269775 core:OtherPropertyPlantEquipment 2024-11-30 15269775 2024-11-30 15269775 core:LandBuildings 2024-12-01 2025-11-30 15269775 core:OtherPropertyPlantEquipment 2024-12-01 2025-11-30 15269775 core:Non-currentFinancialInstruments 2025-11-30 15269775 core:Non-currentFinancialInstruments 2024-11-30 15269775 bus:PrivateLimitedCompanyLtd 2024-12-01 2025-11-30 15269775 bus:SmallCompaniesRegimeForAccounts 2024-12-01 2025-11-30 15269775 bus:FRS102 2024-12-01 2025-11-30 15269775 bus:AuditExemptWithAccountantsReport 2024-12-01 2025-11-30 15269775 bus:FullAccounts 2024-12-01 2025-11-30 xbrli:pure xbrli:shares iso4217:GBP