Treacle And Toffee Limited
Unaudited Financial Statements
For the year ended 29 February 2024
Pages for Filing with Registrar
Company Registration No. 07534318 (England and Wales)
Treacle and Toffee Limited
Treacle And Toffee Limited
Company Information
Directors
Mr A Schleich
Mrs K Schleich
Company number
07534318
Registered office
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Treacle and Toffee Limited
Treacle And Toffee Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Treacle and Toffee Limited
Treacle And Toffee Limited
Balance Sheet
As at 29 February 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
215
7,512
Current assets
Stock
28,499
21,239
Debtors
4
3,273
3,617
Cash at bank and in hand
113,704
124,267
145,476
149,123
Creditors: amounts falling due within one year
5
(17,213)
(22,606)
Net current assets
128,263
126,517
Total assets less current liabilities
128,478
134,029
Provisions for liabilities
(54)
(1,878)
Net assets
128,424
132,151
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
128,422
132,149
Total equity
128,424
132,151

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Treacle and Toffee Limited
Treacle And Toffee Limited
Balance Sheet (Continued)
As at 29 February 2024
Page 2

For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 24 July 2024 and are signed on its behalf by:
Mr A Schleich
Mrs K Schleich
Director
Director
Company Registration No. 07534318
Treacle And Toffee Limited
Notes to the Financial Statements
For the year ended 29 February 2024
Page 3
1
Accounting policies
Company information

Treacle and Toffee Limited is a private company limited by shares incorporated in England and Wales. The registered office is Orbital House, 20 Eastern Road, Romford, Essex, RM1 3PJ and the business address is 5-6 Quadrant Arcade, Romford, Essex, RM1 3ED.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for a period of not less than 12 months following the approval of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
20% Straight Line
Motor vehicles
25% Reducing Balance

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.

1.5
Stock

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and costs that have been incurred in bringing the stock to their present location and condition.

1.6
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 current liabilities.

Treacle And Toffee Limited
Notes to the Financial Statements (Continued)
For the year ended 29 February 2024
1
Accounting policies
(Continued)
Page 4
1.7
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Treacle And Toffee Limited
Notes to the Financial Statements (Continued)
For the year ended 29 February 2024
Page 5
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

 

 

2024
2023
Number
Number
Total
19
17
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023
52,645
Disposals
(12,250)
At 29 February 2024
40,395
Depreciation and impairment
At 1 March 2023
45,133
Depreciation charged in the year
1,985
Eliminated in respect of disposals
(6,938)
At 29 February 2024
40,180
Carrying amount
At 29 February 2024
215
At 28 February 2023
7,512
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
3,273
3,617
Treacle And Toffee Limited
Notes to the Financial Statements (Continued)
For the year ended 29 February 2024
Page 6
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,170
12
Corporation tax
415
9,605
Other taxation and social security
9,984
7,923
Other creditors
75
31
Accruals and deferred income
5,569
5,035
17,213
22,606
6
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
2 Ordinary shares of £1 each
2
2
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
57,500
87,500
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