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REGISTERED NUMBER: 09568867 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

IOW DEVELOPMENTS LIMITED

IOW DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09568867)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

IOW DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: K Trigg
Mrs L S Trigg





SECRETARY:





REGISTERED OFFICE: Trigg House
Monks Brook
St Cross Business Centre
Newport
Isle of Wight
PO30 5WB





REGISTERED NUMBER: 09568867 (England and Wales)





ACCOUNTANTS: Harrison Black Limited
East Quay
Kite Hill
Wootton Bridge
Isle of Wight
PO33 4LA

IOW DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09568867)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 100 700
Investment property 5 470,797 470,797
470,897 471,497

CURRENT ASSETS
Debtors 6 13,190 13,635
Cash at bank 47,661 392,801
60,851 406,436
CREDITORS
Amounts falling due within one year 7 26,642 419,713
NET CURRENT ASSETS/(LIABILITIES) 34,209 (13,277 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

505,106

458,220

CREDITORS
Amounts falling due after more than one
year

8

273,886

299,022
NET ASSETS 231,220 159,198

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 231,120 159,098
SHAREHOLDERS' FUNDS 231,220 159,198

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

IOW DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09568867)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Board of Directors and authorised for issue on 6 September 2024 and were signed on its behalf by:





K Trigg - Director


IOW DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09568867)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

IOW Developments 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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Depreciation is not provided in respect of investment properties. This policy represents a departure from the requirements of the Companies Act 2006, which require all properties to be depreciated. The directors consider that this policy is necessary in order that the accounts may give a true and fair view because current values are of prime importance, rather than the calculation of systematic annual depreciation.

Taxation
Taxation for the year 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 year 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

IOW DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09568867)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 700
Disposals (600 )
At 31 December 2023 100
NET BOOK VALUE
At 31 December 2023 100
At 31 December 2022 700

Fixed asset investments consist of a subsidiary, LASK 2017, that is 100% owned by IOW Developments Ltd.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 470,797
NET BOOK VALUE
At 31 December 2023 470,797
At 31 December 2022 470,797

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 13,190 13,033
Deposit paid - 602
13,190 13,635

IOW DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09568867)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 24,921 24,707
Trade creditors 452 98
Amounts owed to group undertakings - 2,458
Taxation and social security 769 -
Other creditors 500 392,450
26,642 419,713

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 273,886 299,022

9. RELATED PARTY DISCLOSURES

At the balance sheet date, £13,190 (2022 - £13,033) was owed to the company by LASK 2017 Ltd, a company in which IOW Developments Ltd has a 100% interest.

At the balance sheet date, £500 (2022 - £238,144) was owed to IOW Residential Ltd, a company controlled by the directors.

10. ULTIMATE CONTROLLING PARTY

Mr & Mrs K Trigg hold ultimate control via ownership of more than 50% of the ordinary share capital.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
IOW DEVELOPMENTS LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of IOW Developments Limited for the year ended 31 December 2023 which comprise the Income Statement, 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 Board of Directors of IOW Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of IOW Developments Limited and state those matters that we have agreed to state to the Board of Directors of IOW Developments Limited, as a body, 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 IOW Developments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that IOW Developments 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 profit of IOW Developments Limited. You consider that IOW Developments 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 financial statements of IOW Developments 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 financial statements.






Harrison Black Limited
East Quay
Kite Hill
Wootton Bridge
Isle of Wight
PO33 4LA


Date: .............................................