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COMPANY REGISTRATION NUMBER: 13807865
Toynbee Gray Holdings Ltd
Filleted Unaudited Financial Statements
31 March 2024
Toynbee Gray Holdings Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
22,877
Investments
5
180
180
----
--------
180
23,057
Current assets
Debtors
6
185,038
181,919
Cash at bank and in hand
1,647
1,992
---------
---------
186,685
183,911
Creditors: amounts falling due within one year
7
199,907
227,627
---------
---------
Net current liabilities
13,222
43,716
--------
--------
Total assets less current liabilities
( 13,042)
( 20,659)
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 13,044)
( 20,661)
--------
--------
Shareholders deficit
( 13,042)
( 20,659)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Toynbee Gray Holdings Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 21 August 2024 , and are signed on behalf of the board by:
Mr C Toynbee
Director
Company registration number: 13807865
Toynbee Gray Holdings Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 37 Meadow Lane, Newmarket, CB8 8FZ, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% straight line
Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 April 2023
29,500
1,158
30,658
Disposals
( 29,500)
( 1,158)
( 30,658)
--------
-------
--------
At 31 March 2024
--------
-------
--------
Depreciation
At 1 April 2023
7,516
265
7,781
Disposals
( 7,516)
( 265)
( 7,781)
--------
-------
--------
At 31 March 2024
--------
-------
--------
Carrying amount
At 31 March 2024
--------
-------
--------
At 31 March 2023
21,984
893
22,877
--------
-------
--------
5. Investments
Shares in group undertakings
£
Cost
At 1 April 2023 and 31 March 2024
180
----
Impairment
At 1 April 2023 and 31 March 2024
----
Carrying amount
At 31 March 2024
180
----
At 31 March 2023
180
----
6. Debtors
2024
2023
£
£
Trade debtors
350
Amounts owed by group undertakings and undertakings in which the company has a participating interest
184,686
181,917
Other debtors
2
2
---------
---------
185,038
181,919
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
138
Amounts owed to group undertakings and undertakings in which the company has a participating interest
198,569
227,309
Other creditors
1,338
180
---------
---------
199,907
227,627
---------
---------
8. Related party transactions
As at 31st March 2024 and 2023, the company shares were held in equal proportion by Toynbee Investments Ltd and Bridge Farmhouse Investments Ltd. Toynbee Investments Ltd is controlled by Mr Toynbee and Bridge Farmhouse is controlled by Mr Gray. As at the balance sheet date, the company owed Toynbee Investments Ltd £99,285 (2023:£113,135) and Bridge Farmhouse Ltd £99,284 (2023: £114,175). As at 31st March 2023, the company held ninety percent of the shares in a subsidiary company, Gray & Toynbee (Cambridge) Ltd. As at the balance sheet date, Gray & Toynbee (Cambridge) Ltd owed the company £149,029 (2023:£181,917). At 31st march 2024the company held ninety percent of the shares in a subsidiary company, Gray & Toynbee(North)Limited. As at the balance sheet date Gray and Toynbee (North)Limited owed the company £35,657 (2023:£nil)