IOA Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03855501 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

IOA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S R Hawkins

G L Weller

REGISTERED OFFICE:

Essex House

21 Eastways

Witham

Essex

CM8 3YQ

REGISTERED NUMBER:

03855501 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

2nd Floor

Medway Bridge House

1-8 Fairmeadow

Maidstone

Kent

ME14 1JP

FIXED ASSETS

Tangible assets

4

-

1,073

CURRENT ASSETS

Debtors

5

229,018

312,186

Cash at bank and in hand

38,586

43,575

267,604

355,761

CREDITORS

Amounts falling due within one year

6

258,942

350,170

NET CURRENT ASSETS

8,662

5,591

TOTAL ASSETS LESS CURRENT
LIABILITIES

8,662

6,664

CAPITAL AND RESERVES

Called up share capital

7

8

Capital redemption reserve

14

Retained earnings

8,640

6,642

SHAREHOLDERS' FUNDS

8,662

6,664

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 26 September 2025 and were signed on its behalf by:

G L Weller - Director

1.	STATUTORY INFORMATION

IOA 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.

Going Concern

Accounting standards require the directors to consider the appropriateness of the going concern basis when preparing the financial statements. The directors confirm that they consider that the going concern basis remains appropriate. The directors believe that the company has sufficient resources to continue in operational existence for the foreseeable future. The directors believe this to be the case as the company has positive reserves, cash balances and no significant long term liabilities. They have also concluded that there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Therefore they continue to adopt the going concern basis of accounting preparing the annual financial statements.

Turnover

Revenue represents income recognised by the Company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Revenue is recognised when collections from members' gaming machines have been made, usually on a weekly or fortnightly basis.

Tangible fixed assets

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

Office equipment is depreciated at 25% reducing balance.

Fixtures and fittings is depreciated at 25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of the financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with no significant risk of change in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Office

fittings

equipment

Totals

£

Cost

At 1 January 2024

2,788

36,340

39,128

Disposals

(2,788

)

(36,340

)

(39,128

)

At 31 December 2024

-

Depreciation

At 1 January 2024

2,788

35,267

38,055

Charge for year

-

1,073

Eliminated on disposal

(2,788

)

(36,340

)

(39,128

)

At 31 December 2024

-

Net book value

At 31 December 2024

-

At 31 December 2023

-

1,073

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

212,057

299,361

Tax

-

1,192

VAT

16,961

11,633

229,018

312,186

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

242,442

334,748

Accruals and deferred income

16,500

15,422

258,942

350,170

7.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2024

2023

value:

£

8

Share capital 1

£1

8

8.	RELATED PARTY DISCLOSURES

Amdex Solutions Limited

A company in which the former directors of IOA Limited have a material interest.

During the year the company made purchases of £NIL (2023: £NIL) from Amdex Solutions Limited, as at the balance sheet date £18,722 (2023: £18,722) was outstanding.

Essex Leisure Limited

A company in which the directors of IOA Limited have a material interest.

During the year the company made sales of £426,883 (2023: £420,191) to Essex Leisure Limited, as at the balance sheet date £58,766 (2023: £65,116) was outstanding.

During the year the company made purchases of £181,964 (2023: £149,541) to Essex Leisure Limited, as at the balance sheet date £66,256 (2023: £89,657) was outstanding.

9.	ULTIMATE CONTROLLING PARTY

The company is constituted as a mutual organisation for the benefit of the members. The directors of the company act in accordance with the member's wishes.