Island Sport and Leisure Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02672728 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

FOR

ISLAND SPORT AND LEISURE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

4

DIRECTOR:

Mr M L Stickland

SECRETARY:

Mr M L Stickland

REGISTERED OFFICE:

9 Leigh Road

Havant

Hampshire

PO9 2ES

REGISTERED NUMBER:

02672728 (England and Wales)

ACCOUNTANTS:

Rothman Pantall LLP

Chartered Accountants

Chilworth Point

1 Chilworth Road

Southampton

SO16 7JQ

FIXED ASSETS

Tangible assets

2

119

143

CURRENT ASSETS

Cash at bank

593

4,376

CREDITORS

Amounts falling due within one year

21,786

24,636

NET CURRENT LIABILITIES

(21,193

)

(20,260

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(21,074

)

(20,117

)

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

(21,174

)

(20,217

)

SHAREHOLDERS' FUNDS

(21,074

)

(20,117

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 22 February 2017 and were signed by:

Mr M L Stickland - Director

1.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared on a going concern basis notwithstanding the fact that the

company has a deficit on its balance sheet. Assurance has been obtained from Planning Solutions Limited, the

parent company, that group support will not be withdrawn in the foreseeable future. In the opinion of the director,

the company can, and will, continue to be able to meet its liabilities as they fall due.

ACCOUNTING CONVENTION

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

TURNOVER

Turnover is the amount derived from ordinary activities, stated after trade discounts, other sales taxes and net of

VAT.

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

-

10% on cost

Computer equipment

-

25% on cost

DEFERRED TAX

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

balance sheet date.

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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

3,028

DEPRECIATION

At 1 June 2015

2,885

Charge for year

24

At 31 May 2016

2,909

NET BOOK VALUE

At 31 May 2016

119

At 31 May 2015

143

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100

4.	ULTIMATE PARENT COMPANY

Island Sport and Leisure Limited is a subsidiary of Planning Solutions Limited, a company incorporated in the

UK, which has ultimate control of the company.

5.	RELATED PARTY DISCLOSURES

Included within other creditors is an amount of £20,437 (2015: £22,837) owed to Planning Solutions Limited, the parent company . No interest has been charged on this loan.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to three)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Island Sport and Leisure Limited for the year ended 31 May 2016 which comprise the Profit and

Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Island Sport and Leisure Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Island Sport and Leisure Limited and state those matters that we have agreed to state to the director of Island Sport and Leisure Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Island Sport and Leisure Limited director for our work or for this report.

It is your duty to ensure that Island Sport and Leisure Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Island Sport and Leisure Limited. You consider that Island Sport and Leisure Limited is exempt from the statutory audit requirement for the year.