| Island Leisure (Wales) Limited |
| Accountant's Report |
|
| Accountant's Report To The Director Of |
| Island Leisure (Wales) Limited |
|
| You consider that the company is exempt from an audit for the year ended 31 July 2025. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. |
| In accordance with your instructions, I have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to me. |
| I have not carried out an audit or any other review, and consequently I do not express any opinion on these accounts. |
|
| P.J. Reed |
| Chartered Accountant |
|
| 13 Corbett Grove |
| Caerphilly |
| CF83 1SZ |
|
| 23 April 2026 |
|
| Island Leisure (Wales) Limited |
| Registered Number: |
02526882 |
| Balance Sheet |
| As At 31 July 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Investments |
3 |
|
|
55,000 |
|
|
55,000 |
|
| Current assets |
| Cash at bank and in hand |
|
|
5 |
|
|
495 |
|
| Creditors: amounts falling due within one year |
4 |
|
(3,779) |
|
|
(3,561) |
|
| Net current liabilities |
|
|
|
(3,774) |
|
|
(3,066) |
|
| Total assets less current liabilities |
|
|
|
51,226 |
|
|
51,934 |
|
|
| Provisions for liabilities |
|
|
|
(2,304) |
|
|
(2,304) |
|
|
| Net assets |
|
|
|
48,922 |
|
|
49,630 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
4 |
|
|
4 |
| Non-distributable reserve |
5 |
|
|
30,515 |
|
|
30,515 |
| Profit and loss account |
|
|
|
18,403 |
|
|
19,111 |
|
| Shareholder's funds |
|
|
|
48,922 |
|
|
49,630 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. |
|
|
|
|
| Steven J. Parker |
| Director |
| Approved by the board on 23 April 2026 |
|
| Island Leisure (Wales) Limited |
| Notes To The Accounts |
| For The Year Ended 31 July 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Investments |
|
Investment properties are measured at fair value. Changes in fair value are included in the profit and loss account. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Investments |
|
| Investment |
| property |
| £ |
|
Fair value |
|
At 1 August 2024 |
55,000 |
|
|
At 31 July 2025 |
55,000 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 1 August 2024 |
22,181 |
|
At 31 July 2025 |
22,181 |
|
|
|
|
|
|
|
|
|
|
The property was valued at fair value on 31 July 2025 by the director. |
|
|
| 4 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Taxation and social security costs |
1,373 |
|
1,375 |
|
Other creditors |
2,406 |
|
2,186 |
|
|
|
|
|
|
3,779 |
|
3,561 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Non-distributable reserve |
2025 |
|
2024 |
| £ |
£ |
|
|
At 1 August 2024 |
30,515 |
|
30,515 |
|
|
At 31 July 2025 |
30,515 |
|
30,515 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Other information |
|
Island Leisure (Wales) Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
9 Laburnum Way |
|
Dinas Powys |
|
South Glamorgan |
|
Wales |
|
CF64 4TH |