Inishbofin Holdings Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 11498146 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

INISHBOFIN HOLDINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A M de Courcey

REGISTERED OFFICE:

18 Sarlou Court

Uplands

Swansea

SA2 0LW

REGISTERED NUMBER:

11498146 (England and Wales)

AUDITORS:

HB&O Ltd

Chartered Accountants and Statutory Auditors

Seven Stars House

1 Wheler Road

Coventry

CV3 4LB

FIXED ASSETS

Tangible assets

4

1,413

-

Investments

5

69,867

64,577

Investment property

6

10,358,443

10,429,723

10,423,020

CURRENT ASSETS

Debtors

7

200

Cash at bank

27,265

29,245

27,465

29,445

CREDITORS

Amounts falling due within one year

8

103,498

119,185

NET CURRENT LIABILITIES

(76,033

)

(89,740

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

10,353,690

10,333,280

CREDITORS

Amounts falling due after more than one
year

9

(7,755,000

)

(7,810,000

)

PROVISIONS FOR LIABILITIES

(353

)

-

NET ASSETS

2,598,337

2,523,280

CAPITAL AND RESERVES

Called up share capital

300

Retained earnings

2,598,037

2,522,980

SHAREHOLDERS' FUNDS

2,598,337

2,523,280

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 director and authorised for issue on 13 July 2026 and were signed by:

A M de Courcey - Director

1.	STATUTORY INFORMATION

Inishbofin Holdings 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 as modified by the revaluation of certain assets.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

At the balance sheet date the company had net current liabilities of £76,033 (2024 - £89,740), and total net assets of £2,598,337 (2024 - £2,523,280). The director has expressed willingness to support the company as necessary and along with the forecasted future profitable trade the business is considered a going concern. The accounts and financial statements have therefore been prepared on a going concern basis.

Tangible fixed assets

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

Computer equipment

-

Straight line over 3 years

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 November 2024

1,749

Additions

2,120

At 31 October 2025

3,869

DEPRECIATION

At 1 November 2024

1,749

Charge for year

707

At 31 October 2025

2,456

NET BOOK VALUE

At 31 October 2025

1,413

At 31 October 2024

-

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 November 2024

64,577

Additions

26,892

Disposals

(17,825

)

Revaluations

(3,777

)

At 31 October 2025

69,867

NET BOOK VALUE

At 31 October 2025

69,867

At 31 October 2024

64,577

Cost or valuation at 31 October 2025 is represented by:

Other

investments

£

Valuation in 2025

(3,777

)

Cost

73,644

69,867

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2024

and 31 October 2025

10,358,443

NET BOOK VALUE

At 31 October 2025

10,358,443

At 31 October 2024

10,358,443

In January 2019 the depot and lease on the site at Rowley Drive of Mike De Courcey Travel Limited was formally reassigned to Inishbofin Holdings Limited. As the depot was newly completed the fair value of the site was deemed to be equivalent to the value transferred of £10,358,443.

The director has considered this valuation at the period end with reference to expected rental yields.

Fixed assets, included in the above, which are held under finance leases are as follows:

Total

£

FAIR VALUE

At 1 November 2024

and 31 October 2025

10,358,443

NET BOOK VALUE

At 31 October 2025

10,358,443

At 31 October 2024

10,358,443

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other debtors

200

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Finance leases

55,000

Trade creditors

-

120

Taxation and social security

20,803

25,401

Other creditors

27,695

38,664

103,498

119,185

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Finance leases

7,755,000

7,810,000

Amounts falling due in more than five years:

Repayable by instalments

Finance leases

7,535,000

7,590,000

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gregg Olner BA (Hons.) MPhil FCA (Senior Statutory Auditor)

for and on behalf of HB&O Ltd

11.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £14,000 (2024 - £8,300). There were no outstanding contributions at the year end.