The Isle of Wight Cheese Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05427602

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

THE ISLE OF WIGHT CHEESE COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R M Hodgson

Mrs J Cartwright

REGISTERED OFFICE:

Queen Bower Dairy

Production Facility

Alverstone Road

Sandown

Isle of Wight

PO36 0NZ

REGISTERED NUMBER:

05427602

ACCOUNTANTS:

Gibson Whitter

Chartered Accountants

and Chartered Tax Advisers

Larch House

Parklands Business Park

Denmead

Hampshire

PO7 6XP

FIXED ASSETS

Tangible assets

4

1,015,778

911,603

CURRENT ASSETS

Stocks

41,609

38,094

Debtors

5

78,961

98,842

Cash at bank and in hand

597,839

592,680

718,409

729,616

CREDITORS

Amounts falling due within one year

6

99,789

98,848

NET CURRENT ASSETS

618,620

630,768

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,634,398

1,542,371

CREDITORS

Amounts falling due after more than one
year

7

(293,589

)

(324,738

)

PROVISIONS FOR LIABILITIES

9

(33,065

)

(52,074

)

NET ASSETS

1,307,744

1,165,559

CAPITAL AND RESERVES

Called up share capital

10

Retained earnings

1,307,734

1,165,549

1,307,744

1,165,559

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 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 and authorised for issue by the Board of Directors and authorised for issue on 15 September 2026 and were signed on its behalf by:

Mrs J Cartwright - Director

Mr R M Hodgson - Director

1.	STATUTORY INFORMATION

The Isle of Wight Cheese Company Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Tangible fixed assets

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

Freehold property

-

Straight line over 50 years

Plant and machinery

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

Motor

property

machinery

vehicles

Totals

£

COST

At 1 January 2025

721,928

125,333

602,918

50,670

1,500,849

Additions

-

64,191

50,327

2,600

117,118

Disposals

-

(8,000

)

(8,000

)

Impairments

-

100,000

-

100,000

At 31 December 2025

721,928

189,524

753,245

45,270

1,709,967

DEPRECIATION

At 1 January 2025

18,622

-

534,054

36,570

589,246

Charge for year

9,311

-

96,257

7,375

112,943

Eliminated on disposal

-

(8,000

)

(8,000

)

At 31 December 2025

27,933

-

630,311

35,945

694,189

NET BOOK VALUE

At 31 December 2025

693,995

189,524

122,934

9,325

1,015,778

At 31 December 2024

703,306

125,333

68,864

14,100

911,603

Included in cost of land and buildings is freehold land of £ 255,786 (2024 - £ 255,786 ) which is not depreciated.

Amounts included in impairments represent reversal of impairments.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Trade debtors

61,474

66,065

Other debtors

17,487

32,777

78,961

98,842

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Bank loans and overdrafts

36,919

42,689

Trade creditors

13,335

13,488

Taxation and social security

38,663

34,384

Other creditors

10,872

8,287

99,789

98,848

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.25

31.12.24

£

Bank loans

293,589

324,738

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.25

31.12.24

£

Within one year

5,368

5,815

Between one and five years

12,077

16,998

17,445

22,813

9.	PROVISIONS FOR LIABILITIES

31.12.25

31.12.24

£

Deferred tax

33,065

52,074

Deferred

tax

£

Balance at 1 January 2025

52,074

Utilised during year

(19,009

)

Balance at 31 December 2025

33,065

10.	RELATED PARTY DISCLOSURES

The aggregate amount owed to the directors at the balance sheet date is £3,950 (31.12.24: owed by the directors £17,317).

11.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party as no one individual has a greater than 50% shareholding.