Registration number: NI602086

Iberian Wine Tours Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 8

Iberian Wine Tours Limited

Company Information

Directors

Jeremy Shaw Maria Luisa Espeso

Registered office

90 Old Belfast Road Saintfield Ballynahinch Co Down Northern Ireland BT24 7DF

Iberian Wine Tours Limited

(Registration number: NI602086)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	5	680	850
Current assets
Debtors	6	158,091	104,837
Cash at bank and in hand		413,994	452,470
		572,085	557,307
Creditors: Amounts falling due within one year	7	(478,896)	(460,798)
Net current assets		93,189	96,509
Total assets less current liabilities		93,869	97,359
Provisions for liabilities		(625)	(657)
Net assets		93,244	96,702
Capital and reserves
Called up share capital	9	2	2
Retained earnings		93,242	96,700
Shareholders' funds		93,244	96,702

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Iberian Wine Tours Limited

(Registration number: NI602086)
Balance Sheet as at 31 March 2026

Approved and authorised by the Board on 11 September 2026 and signed on its behalf by:
 

......................................... Jeremy Shaw Director

......................................... Maria Luisa Espeso Director

Iberian Wine Tours Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
90 Old Belfast Road
Saintfield
Ballynahinch
Co Down
BT24 7DF
Northern Ireland

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Revenue recognition

Revenue relating to tours is recognised in the profit and loss account on the date of commencement of the tour.

Conference and associated travel costs

Conference and associated travel costs are included in advertising costs.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Iberian Wine Tours Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

2	Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Iberian Wine Tours Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

2	Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2025 - 5).

Iberian Wine Tours Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

4	Profit before tax

Arrived at after charging/(crediting)

	2026 £	2025 £
Depreciation expense	170	213

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2025	4,762	4,762
At 31 March 2026	4,762	4,762
Depreciation
At 1 April 2025	3,912	3,912
Charge for the year	170	170
At 31 March 2026	4,082	4,082
Carrying amount
At 31 March 2026	680	680
At 31 March 2025	850	850

6

Debtors

	2026 £	2025 £
Prepayments	152,690	104,461
Other debtors	5,401	376
	158,091	104,837

Iberian Wine Tours Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

7

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	8	-	4,535
Taxation and social security		13,147	13,392
Accruals and deferred income		465,749	442,871
		478,896	460,798

8	Loans and borrowings

Current loans and borrowings

	2026 £	2025 £
Bank overdrafts	-	4,180
Other borrowings	-	355
	-	4,535

9	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary Shares of £1 each	2	2	2	2