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Company Registration No. 10906975 (England and Wales)
TORBAY INVESTMENTS LIMITED Unaudited accounts for the year ended 31 January 2023
TORBAY INVESTMENTS LIMITED Unaudited accounts Contents
Page
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TORBAY INVESTMENTS LIMITED Company Information for the year ended 31 January 2023
Directors
Mr D Thompson Mr J Thompson
Secretary
Mrs Catherine Flannery
Company Number
10906975 (England and Wales)
Registered Office
6 Orchard Close Ogwell Newton Abbot DEVON TQ12 6AL
Accountants
Mrs Catherine Flannery, FMAAT, FCCA, BSc (Hons) South Devon Accounting Ltd 6 Orchard Close Ogwell Newton Abbot TQ12 6AL
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TORBAY INVESTMENTS LIMITED Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,662,200 
2,096,199 
Current assets
Debtors
1,780 
(1,619)
Cash at bank and in hand
35,852 
16,411 
37,632 
14,792 
Creditors: amounts falling due within one year
(988,759)
(972,613)
Net current liabilities
(951,127)
(957,821)
Total assets less current liabilities
1,711,073 
1,138,378 
Creditors: amounts falling due after more than one year
(793,000)
(801,069)
Provisions for liabilities
Deferred tax
(165,273)
(57,000)
Net assets
752,800 
280,309 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
752,700 
280,209 
Shareholders' funds
752,800 
280,309 
For the year ending 31 January 2023 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 26 October 2023 and were signed on its behalf by
Mr D Thompson Director Company Registration No. 10906975
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TORBAY INVESTMENTS LIMITED Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
TORBAY INVESTMENTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10906975. The registered office is 6 Orchard Close, Ogwell, Newton Abbot, DEVON, TQ12 6AL.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Deferred taxation
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.
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:
Motor vehicles
18% Reducing Balance Basis
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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TORBAY INVESTMENTS LIMITED Notes to the Accounts for the year ended 31 January 2023
4
Tangible fixed assets
Land & buildings 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At valuation 
At cost 
At 1 February 2022
2,092,339 
7,000 
2,099,339 
Additions
- 
19,080 
19,080 
Revaluations
551,050 
- 
551,050 
At 31 January 2023
2,643,389 
26,080 
2,669,469 
Depreciation
At 1 February 2022
- 
3,140 
3,140 
Charge for the year
- 
4,129 
4,129 
At 31 January 2023
- 
7,269 
7,269 
Net book value
At 31 January 2023
2,643,389 
18,811 
2,662,200 
At 31 January 2022
2,092,339 
3,860 
2,096,199 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
139 
(2,836)
Accrued income and prepayments
1,641 
1,217 
1,780 
(1,619)
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
11,254 
11,254 
Obligations under finance leases and hire purchase contracts
6,540 
- 
Trade creditors
3,964 
355 
Taxes and social security
2,938 
4,395 
Loans from directors
943,025 
935,427 
Accruals
21,038 
21,182 
988,759 
972,613 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
786,730 
798,069 
Obligations under finance leases and hire purchase contracts
3,270 
- 
Other creditors
3,000 
3,000 
793,000 
801,069 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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