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REGISTERED NUMBER: 01386837 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

TOBASGO DESIGN LIMITED

TOBASGO DESIGN LIMITED (REGISTERED NUMBER: 01386837)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TOBASGO DESIGN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: G F Martin
A N Martin





SECRETARY: G F Martin





REGISTERED OFFICE: Astral House
Granville Way
Bicester
Oxfordshire
OX26 4JT





REGISTERED NUMBER: 01386837 (England and Wales)





ACCOUNTANTS: Astral Accountancy Services Limited
Astral House
Granville Way
Bicester
Oxfordshire
OX26 4JT

TOBASGO DESIGN LIMITED (REGISTERED NUMBER: 01386837)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,794 1,977

CURRENT ASSETS
Debtors 5 1,218 -
Cash at bank 595 14,663
1,813 14,663
CREDITORS
Amounts falling due within one year 6 11,543 18,761
NET CURRENT LIABILITIES (9,730 ) (4,098 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(6,936

)

(2,121

)

CAPITAL AND RESERVES
Called up share capital 7 1,100 1,100
Retained earnings (8,036 ) (3,221 )
SHAREHOLDERS' FUNDS (6,936 ) (2,121 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

TOBASGO DESIGN LIMITED (REGISTERED NUMBER: 01386837)

BALANCE SHEET - continued
31 MARCH 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2024 and were signed on its behalf by:





G F Martin - Director


TOBASGO DESIGN LIMITED (REGISTERED NUMBER: 01386837)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Tobasgo Design Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in the accounting policies below.

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue for the provision of services is recognised when it is probable that an economic benefit will flow to the entity and the Revenue costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the property
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


TOBASGO DESIGN LIMITED (REGISTERED NUMBER: 01386837)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The financial statements have been prepared on a going concern basis. This basis may not be appropriate as current liabilities exceeded current assets by £9,730 at 31 March 2024 and at that date the Company was insolvent to the extent of £6,936. These factors indicate that the Company may not be able to continue trading. The Company is reliant on the continuing support of the director and there is no evidence that this support will be withdrawn.

Should the company be unable to continue trading, adjustments would have been made to reduce the value of the assets to their recoverable amount and to provide for any further liabilities which might arise.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

TOBASGO DESIGN LIMITED (REGISTERED NUMBER: 01386837)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 5,845 74,636 45,600 11,540 137,621
Additions - - 1,748 - 1,748
At 31 March 2024 5,845 74,636 47,348 11,540 139,369
DEPRECIATION
At 1 April 2023 5,836 74,456 44,852 10,500 135,644
Charge for year 2 45 624 260 931
At 31 March 2024 5,838 74,501 45,476 10,760 136,575
NET BOOK VALUE
At 31 March 2024 7 135 1,872 780 2,794
At 31 March 2023 9 180 748 1,040 1,977

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
VAT 1,218 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
VAT - 3,041
Other creditors 1 1,674
Directors' current accounts 10,842 13,346
Accrued expenses 700 700
11,543 18,761

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,100 Ordinary Share Capital 1 1,100 1,100