Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-31true11false2022-04-01commissioning and distribution of works of arttrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08920028 2022-04-01 2023-03-31 08920028 2021-04-01 2022-03-31 08920028 2023-03-31 08920028 2022-03-31 08920028 c:Director1 2022-04-01 2023-03-31 08920028 d:CurrentFinancialInstruments 2023-03-31 08920028 d:CurrentFinancialInstruments 2022-03-31 08920028 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08920028 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 08920028 d:ShareCapital 2023-03-31 08920028 d:ShareCapital 2022-03-31 08920028 d:RetainedEarningsAccumulatedLosses 2023-03-31 08920028 d:RetainedEarningsAccumulatedLosses 2022-03-31 08920028 c:OrdinaryShareClass1 2022-04-01 2023-03-31 08920028 c:OrdinaryShareClass1 2023-03-31 08920028 c:OrdinaryShareClass1 2022-03-31 08920028 c:FRS102 2022-04-01 2023-03-31 08920028 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 08920028 c:FullAccounts 2022-04-01 2023-03-31 08920028 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08920028









TOASTERS 1999 LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
TOASTERS 1999 LIMITED
REGISTERED NUMBER: 08920028

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
3,170
3,385

Cash at bank and in hand
  
170
565

  
3,340
3,950

Creditors: amounts falling due within one year
 4 
(2,998)
(2,267)

Net current assets
  
 
 
342
 
 
1,683

Total assets less current liabilities
  
342
1,683

  

Net assets
  
342
1,683


Capital and reserves
  

Called up share capital 
 5 
100
100

Profit and loss account
  
242
1,583

  
342
1,683


Page 1

 
TOASTERS 1999 LIMITED
REGISTERED NUMBER: 08920028
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 February 2024.




Justin Niall MacCarthy
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
TOASTERS 1999 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The company is registered in England and Wales. Its registered office is Stanley House, 27 Wellington
Road, Bilston, West Midlands, WV14 6AH. The company's principal activity continues to be that of the commissioning and distribution of works of art.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
TOASTERS 1999 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 4

 
TOASTERS 1999 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
-
527

Other creditors
1,598
640

Accruals and deferred income
1,400
1,100

2,998
2,267



5.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) ordinary shares of £1.00 each
100
100


 
Page 5