Registered number
08336191
TOBY BAKER LIMITED
Unaudited Filleted Accounts
31 March 2023
TOBY BAKER LIMITED
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of TOBY BAKER LIMITED for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of TOBY BAKER LIMITED for the year ended 31 March 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Fordhams & Co Limited
Studio 6
6 Hornsey Street
London
N7 8GR
25 January 2024
TOBY BAKER LIMITED
Registered number: 08336191
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 878 522
Current assets
Debtors 5 1,200 1,200
Cash at bank and in hand 584,069 537,332
585,269 538,532
Creditors: amounts falling due within one year 6 (157,518) (137,088)
Net current assets 427,751 401,444
Net assets 428,629 401,966
Capital and reserves
Called up share capital 1 1
Profit and loss account 428,628 401,965
Shareholder's funds 428,629 401,966
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr T Baker
Director
Approved by the board on 25 January 2024
TOBY BAKER LIMITED
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 30,000
At 31 March 2023 30,000
Amortisation
At 1 April 2022 30,000
At 31 March 2023 30,000
Net book value
At 31 March 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 1,678
Additions 649
At 31 March 2023 2,327
Depreciation
At 1 April 2022 1,156
Charge for the year 293
At 31 March 2023 1,449
Net book value
At 31 March 2023 878
At 31 March 2022 522
5 Debtors 2023 2022
£ £
Trade debtors 1,200 1,200
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 4,356 -
Taxation and social security costs 21,462 27,291
Other creditors 131,700 109,797
157,518 137,088
7 Other information
TOBY BAKER LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Studio 6
6 Hornsey Street
London
N7 8GR
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