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REGISTERED NUMBER: 12491556 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

IOW HOSPITALITY LTD

IOW HOSPITALITY LTD (REGISTERED NUMBER: 12491556)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IOW HOSPITALITY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs L S Bullock
Mr M W E Bullock





REGISTERED OFFICE: 4 Kings Row
Armstrong Road
Maidstone
Kent
ME15 6AQ





REGISTERED NUMBER: 12491556 (England and Wales)





ACCOUNTANTS: Mackenzies
Chartered Accountants
1 Langley Court
Pyle Street
Newport
Isle of Wight
PO30 1LA

IOW HOSPITALITY LTD (REGISTERED NUMBER: 12491556)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 1,333 1,513
Tangible assets 5 8,032 9,482
9,365 10,995

CURRENT ASSETS
Debtors 6 34,260 33,552
Cash at bank 71 1,799
34,331 35,351
CREDITORS
Amounts falling due within one year 7 47,710 54,019
NET CURRENT LIABILITIES (13,379 ) (18,668 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,014

)

(7,673

)

PROVISIONS FOR LIABILITIES 8 8,156 -
NET LIABILITIES (12,170 ) (7,673 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (12,270 ) (7,773 )
SHAREHOLDERS' FUNDS (12,170 ) (7,673 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 HOSPITALITY LTD (REGISTERED NUMBER: 12491556)

BALANCE SHEET - continued
31 MARCH 2024


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 Profit and loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:





Mr M W E Bullock - Director


IOW HOSPITALITY LTD (REGISTERED NUMBER: 12491556)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

IOW Hospitality Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss, 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 2 (2023 - 1 ) .

IOW HOSPITALITY LTD (REGISTERED NUMBER: 12491556)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 April 2023
and 31 March 2024 1,800
AMORTISATION
At 1 April 2023 287
Charge for year 180
At 31 March 2024 467
NET BOOK VALUE
At 31 March 2024 1,333
At 31 March 2023 1,513

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1 April 2023 14,755 270 15,025
Additions 1,098 - 1,098
At 31 March 2024 15,853 270 16,123
DEPRECIATION
At 1 April 2023 5,445 98 5,543
Charge for year 2,505 43 2,548
At 31 March 2024 7,950 141 8,091
NET BOOK VALUE
At 31 March 2024 7,903 129 8,032
At 31 March 2023 9,310 172 9,482

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 2,150 2,700
Other debtors 32,110 29,130
VAT - 1,722
34,260 33,552

Other debtors consists of an amount £32,110 (2023: £29,130) owed from IOD 2022 Ltd.

IOW HOSPITALITY LTD (REGISTERED NUMBER: 12491556)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Amounts owed to group companies - 20,209
VAT 6,063 -
Directors' current accounts 38,520 28,907
Accrued expenses 3,127 4,903
47,710 54,019

8. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax
Accelerated capital allowances 8,156 -

Deferred tax
£
Provided during year 8,156
Balance at 31 March 2024 8,156

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary 1 100 100

10. POST BALANCE SHEET EVENTS

Since 31st March 2024 the company disposed of its interest in The Boat House during in March 2025.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr M W E Bullock.