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Registered number: 12855043
IOW Lettings Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
SRL ACCOUNTING LIMITED
Unit 7a Waterside Business Park Waterside
Chesham
HP5 1PE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12855043
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 655,317 649,413
655,317 649,413
CURRENT ASSETS
Debtors 5 100 100
Cash at bank and in hand 10,995 9,309
11,095 9,409
Creditors: Amounts Falling Due Within One Year 6 (713,157 ) (675,624 )
NET CURRENT ASSETS (LIABILITIES) (702,062 ) (666,215 )
TOTAL ASSETS LESS CURRENT LIABILITIES (46,745 ) (16,802 )
Creditors: Amounts Falling Due After More Than One Year 7 - (18,880 )
NET LIABILITIES (46,745 ) (35,682 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (46,845 ) (35,782 )
SHAREHOLDERS' FUNDS (46,745) (35,682)
Page 1
Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr PAUL MENDOLIA
Director
25 November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
IOW Lettings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12855043 . The registered office is UNIT 7A WATERSIDE BUSINESS PARK, WATERSIDE, CHESHAM, BUCKINGHAMSHIRE, HP5 1PE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold -
Fixtures & Fittings 10% straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 October 2023 645,242 4,634 649,876
Additions - 7,075 7,075
As at 30 September 2024 645,242 11,709 656,951
Depreciation
As at 1 October 2023 - 463 463
Provided during the period - 1,171 1,171
As at 30 September 2024 - 1,634 1,634
Net Book Value
As at 30 September 2024 645,242 10,075 655,317
As at 1 October 2023 645,242 4,171 649,413
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Called up share capital not paid 100 100
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 1
Accruals and deferred income 690 504
Director's loan account 707,466 675,119
Amounts owed to associates 5,000 -
713,157 675,624
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors - 18,880
8. Share Capital
2024 2023
£ £
Called Up Share Capital not Paid 100 100
Amount of Allotted, Called Up Share Capital 100 100
Page 4