Company Registration No. 01812172 (England and Wales)
Isle of Wight Hotels Ltd
Unaudited accounts
for the year ended 31 March 2025
Isle of Wight Hotels Ltd
Unaudited accounts
Contents
Isle of Wight Hotels Ltd
Company Information
for the year ended 31 March 2025
Directors
N J Spyker
J Moorman
M Moorman
Company Number
01812172 (England and Wales)
Registered Office
Sandringham Hotel
Esplanade
Sandown
Isle of Wight
PO36 8AH
Isle of Wight Hotels Ltd
Statement of financial position
as at 31 March 2025
Tangible assets
2,444,427
2,529,766
Investment property
435,000
435,000
Investments
200,080
200,080
Inventories
1,098,854
1,035,845
Cash at bank and in hand
2,492,145
3,660,904
Creditors: amounts falling due within one year
(5,880,913)
(6,262,677)
Net current liabilities
(2,278,904)
(1,555,631)
Total assets less current liabilities
800,603
1,609,215
Provisions for liabilities
Deferred tax
(114,519)
(114,519)
Net assets
686,084
1,494,696
Called up share capital
100
100
Profit and loss account
685,984
1,494,596
Shareholders' funds
686,084
1,494,696
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 December 2025 and were signed on its behalf by
N J Spyker
Director
Company Registration No. 01812172
Isle of Wight Hotels Ltd
Notes to the Accounts
for the year ended 31 March 2025
Isle of Wight Hotels Ltd is a private company, limited by shares, registered in England and Wales, registration number 01812172. The registered office is Sandringham Hotel, Esplanade, Sandown, Isle of Wight, PO36 8AH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from hotel trading is recognised when the customer stays at the hotel, with any amounts received before this being deferred until arrival date. Services to customers during their stay in the hotel are recognised when they are incurred. Sales of development land and properties are recognised at the date of transfer of title.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
over 50 years
Plant & machinery
over 10 years
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The interest in the subsidiary is initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investment is assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the profit or loss.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories over its estimated selling price is recognised as an impairment loss in the profit or loss.
Isle of Wight Hotels Ltd
Notes to the Accounts
for the year ended 31 March 2025
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The cost of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting polices. In preparing these financial statements, the directors have made the following judgements:
Determine whether there are indicators of impairment of the company's inventories, tangible fixed assets and investments. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
Other key sources of estimation uncertainty:
Tangible fixed assets (note 4)
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
Isle of Wight Hotels Ltd
Notes to the Accounts
for the year ended 31 March 2025
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 April 2024
4,266,998
584,718
4,851,716
At 31 March 2025
4,266,998
584,718
4,851,716
At 1 April 2024
1,737,232
584,718
2,321,950
Charge for the year
85,339
-
85,339
At 31 March 2025
1,822,571
584,718
2,407,289
At 31 March 2025
2,444,427
-
2,444,427
At 31 March 2024
2,529,766
-
2,529,766
Fair value at 1 April 2024
435,000
The fair value of the investment property has been arrived at on the basis of a valuation carried out by Prince Smart, Chartered Surveyors, who are not connected with the company. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties. The directors review these valuations annually and are of the opinion that current values are not materially different from those shown above.
The profit and loss account reserve records retained earnings and accumulated losses. At the balance sheet date, the profit and loss account included accumulated unrealised profits relating to the revaluation of investment properties of £394,422 (2024: £660,114) which are not available for distribution.
6
Investments
Subsidiary undertakings
Valuation at 1 April 2024
200,080
Valuation at 31 March 2025
200,080
Amounts falling due within one year
Accrued income and prepayments
11,010
10,297
Isle of Wight Hotels Ltd
Notes to the Accounts
for the year ended 31 March 2025
8
Creditors: amounts falling due within one year
2025
2024
Trade creditors
48,820
43,655
Amounts owed to group undertakings and other participating interests
5,157,043
5,157,043
Taxes and social security
5,915
5,179
Other creditors
6,678
147,967
Loans from directors
589,221
824,501
Deferred income
58,292
62,666
The long term bank loans were fully repaid during the year. All charges have been satisfied at the year end.
Other payables include an amount of £589,221 (2024 - £824,501) due to the directors. This balance is interest free and repayable on demand.
11
Transactions with related parties
Other creditors includes an amount of £513 (2024 - £141,275) due to Sandringham Hotels (Isle of Wight) Limited, a company in which the directors are interested as shareholders and directors. This balance is as a result of trading transactions carried out on an arms length basis.
The company is controlled by the board of directors.
13
Average number of employees
During the year the average number of employees was 18 (2024: 18).