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Registered number: 15435459
Blue Island Properties Ltd
Financial Statements
For The Year Ended 31 January 2026
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 15435459
31 January 2026 31 January 2025
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 726,496 263,831
726,496 263,831
CURRENT ASSETS
Stocks 5 240,255 89,639
Debtors 6 11,551 10,645
Cash at bank and in hand 664 678
252,470 100,962
Creditors: Amounts Falling Due Within One Year 7 (589,157 ) (250,469 )
NET CURRENT ASSETS (LIABILITIES) (336,687 ) (149,507 )
TOTAL ASSETS LESS CURRENT LIABILITIES 389,809 114,324
Creditors: Amounts Falling Due After More Than One Year 8 (305,534 ) (140,159 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (30,478 ) -
NET ASSETS/(LIABILITIES) 53,797 (25,835 )
CAPITAL AND RESERVES
Called up share capital 10 102 102
Fair value reserve 11 108,057 -
Profit and Loss Account (54,362 ) (25,937 )
SHAREHOLDERS' FUNDS 53,797 (25,835)
Page 1
Page 2
For the year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs L M Daughtrey
Director
30/10/2026
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Blue Island Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 15435459 . The registered office is 81 High Street, Cosham, Hampshire, PO6 3BL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable.  The company is not registered for value added taxes. Turnover is derived solely from the rental and management of investment property.
Rents Receivable
Rent and management fees receivable represents the invoiced value of rental leases provided by the company.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2025: 1)
1 1
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Page 4
4. Investment Property
31 January 2026
£
Fair Value
As at 1 February 2025 263,831
Additions 324,130
Revaluations 138,535
As at 31 January 2026 726,496
5. Stocks
31 January 2026 31 January 2025
£ £
Stock 240,255 89,639
6. Debtors
31 January 2026 31 January 2025
£ £
Due within one year
Other debtors 1,385 650
Due after more than one year
Intercompany loan 10,166 9,995
11,551 10,645
Included within debtors due after more than one year is an intercompany loan of £10,166, which has been made to a company that the director holds shares in and is a Person of Significant Control.
7. Creditors: Amounts Falling Due Within One Year
31 January 2026 31 January 2025
£ £
Other loans 75,000 -
Other creditors 335,000 95,000
Accruals and deferred income 2,400 1,854
Director's loan account 176,757 153,615
589,157 250,469
Included within Creditors due within one year is the balance of £176,637 owed to the director. The loan has been made interest free and is repayable on demand.
8. Creditors: Amounts Falling Due After More Than One Year
31 January 2026 31 January 2025
£ £
Mortgage 305,534 140,159
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9. Secured Creditors
Of the creditors the following amounts are secured.
31 January 2026 31 January 2025
£ £
Bank loans and overdrafts 305,534 140,159
10. Share Capital
31 January 2026 31 January 2025
£ £
Allotted, Called up and fully paid 102 102
11. Reserves
Fair value reserve Profit and Loss Account
£ £
As at 1 February 2025 - (25,937 )
Profit for the year and total comprehensive income - 79,632
Transfer to/from Fair value reserve - (108,057)
Transfer to/from Profit & Loss Account 108,057 -
As at 31 January 2026 108,057 (54,362 )
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