Wild Island Exploration Limited - Period Ending 2017-10-31

Registration number: SC093174

Wild Island Exploration Limited

Unaudited Financial Statements

31 October 2017

Wild Island Exploration Limited

Contents

Accountants' Report	1
Balance Sheet	2

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Wild Island Exploration Limited
for the Year Ended 31 October 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Wild Island Exploration Limited for the year ended 31 October 2017 as set out on pages 2 to 4 from the company's accounting records and from information and explanations you have given us.

As a 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 at http://www.icaew.com/membershandbook.

This report is made solely to the Board of Directors of Wild Island Exploration Limited, as a body, in accordance with the terms of our engagement letter dated 1 May 2013. Our work has been undertaken solely to prepare for your approval the accounts of Wild Island Exploration Limited and state those matters that we have agreed to state to the Board of Directors of Wild Island Exploration Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wild Island Exploration Limited and its Board of Directors as a body for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the accounts of Wild Island Exploration Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

26 April 2018

Page 1

Wild Island Exploration Limited

(Registration number: SC093174)
Balance Sheet as at 31 October 2017

		2017 £	2016 £
Fixed assets		110,892	112,411
Current assets		8,452	30,416
Creditors: Amounts falling due within one year		(23,227)	(240)
Net current (liabilities)/assets		(14,775)	30,176
Total assets less current liabilities		96,117	142,587
Accruals and deferred income		(6,750)	(4,648)
		89,367	137,939
Capital and reserves		89,367	137,939

Page 2

Wild Island Exploration Limited

(Registration number: SC093174)
Balance Sheet as at 31 October 2017 (continued)

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Solwaybank
CANONBIE
DG14 0XS

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

2	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2016 - 2).

3	Related party transactions

Transactions with directors

2017	At 1 November 2016 £	Advances £	Repayments £	Dividends credited £	Interest £	At 31 October 2017 £
M Johnson-Ferguson
Loan to director	8,994	-	(8,994)	-	-	-

2016	At 1 November 2015 £	Advances £	Repayments £	Dividends credited £	Interest £	At 31 October 2016 £
M Johnson-Ferguson
Loan to director	10,094	10,513	(8,337)	(3,365)	89	8,994

Directors' advances are repayable on demand.

Interest has been charged at a rate of 3% on advances to directors.

Page 3

Wild Island Exploration Limited

(Registration number: SC093174)
Balance Sheet as at 31 October 2017 (continued)

These financial statements have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

For the financial year ending 31 October 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised by the director on 26 April 2018
 

.........................................

M Johnson-Ferguson
Director

Page 4