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REGISTERED NUMBER: 09568867 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

IOW DEVELOPMENTS LIMITED

IOW DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09568867)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

IOW DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







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 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,667 -
Investments 5 100 100
Investment property 6 470,797 470,797
488,564 470,897

CURRENT ASSETS
Debtors 7 17,447 13,190
Cash at bank 18,749 47,661
36,196 60,851
CREDITORS
Amounts falling due within one year 8 30,135 26,642
NET CURRENT ASSETS 6,061 34,209
TOTAL ASSETS LESS CURRENT
LIABILITIES

494,625

505,106

CREDITORS
Amounts falling due after more than one
year

9

247,622

273,886
NET ASSETS 247,003 231,220

IOW DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09568867)

BALANCE SHEET - continued
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 246,903 231,120
SHAREHOLDERS' FUNDS 247,003 231,220

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 27 May 2025 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 2024


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

IOW DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09568867)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 20,785
At 31 December 2024 20,785
DEPRECIATION
Charge for year 3,118
At 31 December 2024 3,118
NET BOOK VALUE
At 31 December 2024 17,667

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2024
and 31 December 2024 100
NET BOOK VALUE
At 31 December 2024 100
At 31 December 2023 100

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

IOW DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09568867)

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


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 470,797
NET BOOK VALUE
At 31 December 2024 470,797
At 31 December 2023 470,797

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,120 -
Amounts owed by group undertakings 14,327 13,190
17,447 13,190

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 25,593 24,921
Trade creditors 3,565 452
Taxation and social security 232 769
Other creditors 745 500
30,135 26,642

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 247,622 273,886

IOW DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09568867)

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


10. RELATED PARTY DISCLOSURES

At the balance sheet date, £14,327 (2023 - £13,190) 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, £515 (2023 - £500) was owed to IOW Residential Ltd, a company controlled by the directors.

At the balance sheet date, the director, Mr K Trigg, was owed £230 (2023 - £Nil) by the company via a non-interest bearing director's loan.

11. 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 2024 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: .............................................