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REGISTERED NUMBER: 00716952 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

Torstead Limited

Torstead Limited (Registered number: 00716952)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Torstead Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: M Slater
A Slater





REGISTERED OFFICE: 9 Hillcrest Avenue
Edgware
Middlesex
HA8 8NZ





REGISTERED NUMBER: 00716952 (England and Wales)






Torstead Limited (Registered number: 00716952)

Abridged Statement of Financial Position
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 266
Investment property 5 750,000 750,000
750,000 750,266

CURRENT ASSETS
Cash at bank 12,343 16,516

CREDITORS
Amounts falling due within one year 12,804 18,816
NET CURRENT LIABILITIES (461 ) (2,300 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

749,539

747,966

PROVISIONS FOR LIABILITIES 26,092 26,092
NET ASSETS 723,447 721,874

CAPITAL AND RESERVES
Called up share capital 100 100
Inv. property reval. reserve 717,408 717,408
Retained earnings 5,939 4,366
SHAREHOLDERS' FUNDS 723,447 721,874

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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.

Torstead Limited (Registered number: 00716952)

Abridged Statement of Financial Position - continued
30 April 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 April 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 June 2023 and were signed on its behalf by:





M Slater - Director


Torstead Limited (Registered number: 00716952)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Torstead Limited is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2022 - NIL).

Torstead Limited (Registered number: 00716952)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2022
and 30 April 2023 13,757
DEPRECIATION
At 1 May 2022 13,491
Charge for year 266
At 30 April 2023 13,757
NET BOOK VALUE
At 30 April 2023 -
At 30 April 2022 266

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022
and 30 April 2023 750,000
NET BOOK VALUE
At 30 April 2023 750,000
At 30 April 2022 750,000

Fair value at 30 April 2023 is represented by:
£   
Valuation in 2008 408,500
Valuation in 2011 335,000
Cost 6,500
750,000

If investment property had not been revalued it would have been included at the following historical cost:

30.4.23 30.4.22
£    £   
Cost 6,500 6,500

Investment property was valued on an open market basis on 30 April 2022 by the directors .