Isola Holistics Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11647745 (England and Wales)

Unaudited Financial Statements

for the Period 29 October 2018 to 31 October 2019

for

Isola Holistics Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs E A Verenini

REGISTERED OFFICE:

Building 6000 Langstone Technology Park

Langstone Road

Havant

Hampshire

PO9 1SA

REGISTERED NUMBER:

11647745 (England and Wales)

ACCOUNTANTS:

AM-PM Accounting Solutions Limited

Building 6000

Langstone Technology Park

Langstone Road

Havant

Hampshire

PO9 1SA

FIXED ASSETS

Tangible assets

3

3,307

CURRENT ASSETS

Debtors

4

33

Cash at bank and in hand

1,218

1,251

CREDITORS

Amounts falling due within one year

5

8,484

NET CURRENT LIABILITIES

(7,233

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,926

)

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

(3,927

)

SHAREHOLDERS' FUNDS

(3,926

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 on 5 January 2020 and were signed by:

Mrs E A Verenini - Director

1.	STATUTORY INFORMATION

Isola Holistics 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the period 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 period 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.

Going concern

The financial statements for the period ended 31st October 2019 have been prepared on a going concern basis. In

making this going concern assessment, the directors have not considered a period of greater than 12 months from

the date of approval of these financial statements.

Despite net liabilities exceeding net assets for the period ending 31st October 2019 the directors feel that as the

majority of net liabilities are directors loan accounts the going concern basis of preparation remains appropriate.

3.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

Additions

247

1,228

3,300

4,775

At 31 October 2019

247

1,228

3,300

4,775

DEPRECIATION

Charge for period

61

307

1,100

1,468

At 31 October 2019

61

307

1,100

1,468

NET BOOK VALUE

At 31 October 2019

186

921

2,200

3,307

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

33

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other creditors

8,484

6.	RELATED PARTY DISCLOSURES

Included within other creditors is a balance totalling £7,764 owed to Mrs E Verenini, a director. This loan was

provided interest free and repayable on demand.

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs E A Verenini.