Company Registration No. 10403008 (England and Wales)
TOUTHILL MANAGEMENT LTD
Unaudited accounts
for the year ended 31 July 2022
TOUTHILL MANAGEMENT LTD
Unaudited accounts
Contents
TOUTHILL MANAGEMENT LTD
Company Information
for the year ended 31 July 2022
Director
Guillaume De La Gorce
Company Number
10403008 (England and Wales)
Registered Office
TOUTHILL PLACE
TOUTHILL CLOSE
PETERBOROUGH
PE1 1FU
ENGLAND
TOUTHILL MANAGEMENT LTD
Statement of financial position
as at 31 July 2022
Tangible assets
15,892,091
15,960,805
Cash at bank and in hand
12,401
95,939
Creditors: amounts falling due within one year
(193,816)
(56,312)
Net current (liabilities)/assets
(37,728)
121,509
Total assets less current liabilities
15,854,363
16,082,314
Creditors: amounts falling due after more than one year
(15,902,741)
(16,291,626)
Net liabilities
(48,378)
(209,312)
Called up share capital
100
100
Profit and loss account
(48,478)
(209,412)
Shareholders' funds
(48,378)
(209,312)
For the year ending 31 July 2022 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 director acknowledges his 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 and authorised for issue on 17 October 2023 and were signed on its behalf by
Guillaume De La Gorce
Director
Company Registration No. 10403008
TOUTHILL MANAGEMENT LTD
Notes to the Accounts
for the year ended 31 July 2022
TOUTHILL MANAGEMENT LTD is a private company, limited by shares, registered in England and Wales, registration number 10403008. The registered office is TOUTHILL PLACE, TOUTHILL CLOSE, PETERBOROUGH, PE1 1FU, ENGLAND.
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 entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the exemptions available under paragraph 1.12 of FRS 102
The accounts are presented in £ sterling.
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Tangible fixed assets and depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying
amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in
equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
4% Straight line
Fixtures & fittings
20% Straight line
TOUTHILL MANAGEMENT LTD
Notes to the Accounts
for the year ended 31 July 2022
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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 the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
TOUTHILL MANAGEMENT LTD
Notes to the Accounts
for the year ended 31 July 2022
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 August 2021
16,140,000
20,769
16,160,769
At 31 July 2022
16,140,000
20,769
16,160,769
At 1 August 2021
188,300
11,664
199,964
Charge for the year
64,560
4,154
68,714
At 31 July 2022
252,860
15,818
268,678
At 31 July 2022
15,887,140
4,951
15,892,091
At 31 July 2021
15,951,700
9,105
15,960,805
Amounts falling due within one year
Trade debtors
137,292
75,487
Accrued income and prepayments
6,295
6,295
6
Creditors: amounts falling due within one year
2022
2021
Trade creditors
12,943
22,939
Taxes and social security
21,441
21,441
Other creditors
16,043
11,932
7
Creditors: amounts falling due after more than one year
2022
2021
Bank loans
12,708,406
13,055,418
Amounts owed to group undertakings and other participating interests
3,194,335
3,236,208
8
Average number of employees
During the year the average number of employees was 0 (2021: 0).