Silverfin false 31/03/2023 01/04/2022 31/03/2023 A L Baldwin 19/07/2003 T J Baldwin 19/07/2003 20 December 2023 The principal activity of the company continued to be that of a cattery and pet supply shop until the company demerged on the 5 October 2022. From this date the company's principal activity continued to be that of a pet shop supply. 04838611 2023-03-31 04838611 bus:Director1 2023-03-31 04838611 bus:Director2 2023-03-31 04838611 2022-03-31 04838611 core:CurrentFinancialInstruments 2023-03-31 04838611 core:CurrentFinancialInstruments 2022-03-31 04838611 core:Non-currentFinancialInstruments 2023-03-31 04838611 core:Non-currentFinancialInstruments 2022-03-31 04838611 core:ShareCapital 2023-03-31 04838611 core:ShareCapital 2022-03-31 04838611 core:RetainedEarningsAccumulatedLosses 2023-03-31 04838611 core:RetainedEarningsAccumulatedLosses 2022-03-31 04838611 core:Goodwill 2022-03-31 04838611 core:Goodwill 2023-03-31 04838611 core:PlantMachinery 2022-03-31 04838611 core:Vehicles 2022-03-31 04838611 core:FurnitureFittings 2022-03-31 04838611 core:PlantMachinery 2023-03-31 04838611 core:Vehicles 2023-03-31 04838611 core:FurnitureFittings 2023-03-31 04838611 2022-04-01 2023-03-31 04838611 bus:FullAccounts 2022-04-01 2023-03-31 04838611 bus:SmallEntities 2022-04-01 2023-03-31 04838611 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04838611 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04838611 bus:Director1 2022-04-01 2023-03-31 04838611 bus:Director2 2022-04-01 2023-03-31 04838611 core:Goodwill core:TopRangeValue 2022-04-01 2023-03-31 04838611 core:Goodwill 2022-04-01 2023-03-31 04838611 core:PlantMachinery 2022-04-01 2023-03-31 04838611 core:Vehicles 2022-04-01 2023-03-31 04838611 core:FurnitureFittings core:BottomRangeValue 2022-04-01 2023-03-31 04838611 core:FurnitureFittings core:TopRangeValue 2022-04-01 2023-03-31 04838611 2021-04-01 2022-03-31 04838611 core:FurnitureFittings 2022-04-01 2023-03-31 04838611 core:CurrentFinancialInstruments 2022-04-01 2023-03-31 04838611 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 04838611 (England and Wales)

TOM BALDWIN LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH THE REGISTRAR

TOM BALDWIN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

TOM BALDWIN LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
TOM BALDWIN LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
DIRECTORS A L Baldwin
T J Baldwin
SECRETARY T J Baldwin
REGISTERED OFFICE 400 Turton Road
Tottington Bury
BL8 3QG
United Kingdom
COMPANY NUMBER 04838611 (England and Wales)
CHARTERED ACCOUNTANTS PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
BB1 5QB
TOM BALDWIN LIMITED

BALANCE SHEET

AS AT 31 MARCH 2023
TOM BALDWIN LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 10,655 11,920
10,655 11,920
Current assets
Stocks 14,233 13,556
Debtors 5 19,666 20,016
Cash at bank and in hand 16,238 15,423
50,137 48,995
Creditors: amounts falling due within one year 6 ( 27,832) ( 26,721)
Net current assets 22,305 22,274
Total assets less current liabilities 32,960 34,194
Creditors: amounts falling due after more than one year 7 ( 31,602) ( 32,630)
Provision for liabilities ( 1,292) ( 1,371)
Net assets 66 193
Capital and reserves
Called-up share capital 1 1
Profit and loss account 65 192
Total shareholder's funds 66 193

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Tom Baldwin Limited (registered number: 04838611) were approved and authorised for issue by the Board of Directors on 20 December 2023. They were signed on its behalf by:

T J Baldwin
Director
TOM BALDWIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
TOM BALDWIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Tom Baldwin Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 400 Turton Road, Tottington Bury, BL8 3QG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 20 % reducing balance
Fixtures and fittings 6 - 7 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 5

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2022 20,000 20,000
At 31 March 2023 20,000 20,000
Accumulated amortisation
At 01 April 2022 20,000 20,000
At 31 March 2023 20,000 20,000
Net book value
At 31 March 2023 0 0
At 31 March 2022 0 0

4. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 April 2022 6,342 14,993 10,573 31,908
Additions 1,346 0 0 1,346
At 31 March 2023 7,688 14,993 10,573 33,254
Accumulated depreciation
At 01 April 2022 1,691 8,140 10,157 19,988
Charge for the financial year 953 1,370 288 2,611
At 31 March 2023 2,644 9,510 10,445 22,599
Net book value
At 31 March 2023 5,044 5,483 128 10,655
At 31 March 2022 4,651 6,853 416 11,920

5. Debtors

2023 2022
£ £
Trade debtors 1,826 2,486
Amounts owed by associates 4,427 0
Amounts owed by directors 10,630 15,774
Prepayments 1,052 1,240
Other debtors 1,731 516
19,666 20,016

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 5,514 10,000
Trade creditors 10,104 0
Taxation and social security 8,865 13,877
Other creditors 3,349 2,844
27,832 26,721

Bank loans is an amount due to Barclays Bank under the Coronavirus Bounce Back Loan Scheme, the full guarantee is provided by the UK government.

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 31,602 32,630

Bank loans is an amount due to Barclays Bank under the Coronavirus Bounce Back Loan Scheme, the full guarantee is provided by the UK government.

8. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amounts owed to Tom Baldwin Limited from the company directors 10,630 15,774

During the year the company advanced amounts to a director. There is no formal agreement in place over such amounts and the balance is repayable on demand. Interest is charged at 2.5% on amounts exceeding £10,000. At the year end there was a balance of £10,630 owed from a director (2022 - £15,774 owed from a director). The maximum overdrawn amount in the year was £22,188 and interest charged amounted to £338.