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Registered Number: 12096606
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 July 2024

for

I2I HOSPITALITY LIMITED

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 20,320    24,014 
Tangible fixed assets 4 154,179    151,296 
174,499    175,310 
Current assets      
Stocks 5 47,500    47,500 
Debtors 6 300,000    16,373 
Cash at bank and in hand 252,927    620,536 
600,427    684,409 
Creditors: amount falling due within one year 7 (324,107)   (404,535)
Net current assets 276,320    279,874 
 
Total assets less current liabilities 450,819    455,184 
Creditors: amount falling due after more than one year 8   (19,111)
Provisions for liabilities 9 (38,546)   (46,780)
Net assets 412,273    389,293 
 

Capital and reserves
     
Called up share capital 10 100    100 
Profit and loss account 412,173    389,193 
Shareholders' funds 412,273    389,293 
 


For the year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 20 January 2025 and were signed on its behalf by:


-------------------------------
Peter Harvey
Director
1
General Information
I2I Hospitality Limited is a private company, limited by shares, registered in England and Wales, registration number 12096606, registration address 13 The Close, Norwich, England, NR1 4DS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 5 to 10 years Straight Line
Plant and Machinery 5 years Straight Line
Computer Equipment 3 years Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 52 (2023 : 71).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 August 2023 33,250    33,250 
Additions  
Disposals  
At 31 July 2024 33,250    33,250 
Amortisation
At 01 August 2023 9,236    9,236 
Charge for year 3,694    3,694 
On disposals  
At 31 July 2024 12,930    12,930 
Net book values
At 31 July 2024 20,320    20,320 
At 31 July 2023 24,014    24,014 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £   £
At 01 August 2023 210,063    29,614      2,929    242,606 
Additions     41,290    707    41,997 
Disposals        
At 31 July 2024 210,063    29,614    41,290    3,636    284,603 
Depreciation
At 01 August 2023 76,594    13,042      1,674    91,310 
Charge for year 22,695    5,627    10,322    470    39,114 
On disposals        
At 31 July 2024 99,289    18,669    10,322    2,144    130,424 
Net book values
Closing balance as at 31 July 2024 110,774    10,945    30,968    1,492    154,179 
Opening balance as at 01 August 2023 133,469    16,572      1,255    151,296 


5.

Stocks

2024
£
  2023
£
Stocks 47,500    47,500 
47,500    47,500 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Prepayments & Accrued Income   16,372 
Other Debtors 300,000    1 
300,000    16,373 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 93,575    147,110 
Bank Loans & Overdrafts 18,463    10,000 
Corporation Tax 28,661    54,040 
PAYE & Social Security 25,220    18,772 
Accrued Expenses   25,000 
Other Creditors 4,107   
Obligations under HP/Financial Leases 34,983   
Directors' Current Accounts 756    41,397 
VAT 118,342    108,216 
324,107    404,535 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts   19,111 
  19,111 

9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 43,691    2,767 
Charged to Profit & Loss (5,145)   40,924 
Pension Provisions   3,089 
38,546    46,780 

10.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

2