Follow Stan and Ollie on their flight to London for the reading of Stan's late uncle's will. After all Stan's uncle's cash is used to pay the solicitors, death duties and tax, all that is left is a yacht and a South Sea Island! At the docks they take receipt of the yacht and also a displaced seaman and a stowaway.
The four set sail but are shipwrecked on an atoll during a storm. They then meet singer Cherie L'Amour who is escaping her fiancée and When he turns up unexpectedly to chart the atoll, he discovers it to be rich in uranium and soon the superpowers want it.
Meanwhile, the five occupants form their own government and vote Oliver their Governor! Can he save their island?