Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01No description of principal activity33falsetrue 01445648 2023-01-01 2023-12-31 01445648 2022-01-01 2022-12-31 01445648 2023-12-31 01445648 2022-12-31 01445648 c:Director1 2023-01-01 2023-12-31 01445648 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 01445648 d:Buildings d:ShortLeaseholdAssets 2023-12-31 01445648 d:Buildings d:ShortLeaseholdAssets 2022-12-31 01445648 d:PlantMachinery 2023-01-01 2023-12-31 01445648 d:PlantMachinery 2023-12-31 01445648 d:PlantMachinery 2022-12-31 01445648 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01445648 d:FurnitureFittings 2023-01-01 2023-12-31 01445648 d:FurnitureFittings 2023-12-31 01445648 d:FurnitureFittings 2022-12-31 01445648 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01445648 d:OfficeEquipment 2023-01-01 2023-12-31 01445648 d:OfficeEquipment 2023-12-31 01445648 d:OfficeEquipment 2022-12-31 01445648 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01445648 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01445648 d:Goodwill 2023-01-01 2023-12-31 01445648 d:Goodwill 2023-12-31 01445648 d:Goodwill 2022-12-31 01445648 d:ComputerSoftware 2023-12-31 01445648 d:ComputerSoftware 2022-12-31 01445648 d:CurrentFinancialInstruments 2023-12-31 01445648 d:CurrentFinancialInstruments 2022-12-31 01445648 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01445648 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 01445648 d:ShareCapital 2023-12-31 01445648 d:ShareCapital 2022-12-31 01445648 d:RetainedEarningsAccumulatedLosses 2023-12-31 01445648 d:RetainedEarningsAccumulatedLosses 2022-12-31 01445648 c:OrdinaryShareClass1 2023-01-01 2023-12-31 01445648 c:OrdinaryShareClass1 2023-12-31 01445648 c:OrdinaryShareClass1 2022-12-31 01445648 c:OrdinaryShareClass2 2023-01-01 2023-12-31 01445648 c:OrdinaryShareClass2 2023-12-31 01445648 c:OrdinaryShareClass2 2022-12-31 01445648 c:FRS102 2023-01-01 2023-12-31 01445648 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 01445648 c:FullAccounts 2023-01-01 2023-12-31 01445648 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01445648 2 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01445648










TOSCA & WILLOUGHBY LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
TOSCA & WILLOUGHBY LIMITED
REGISTERED NUMBER: 01445648

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
5
5

Tangible assets
 5 
1,853
1,221

  
1,858
1,226

Current assets
  

Stocks
 6 
60,552
66,935

Debtors: amounts falling due within one year
 7 
5,562
1,380

Cash at bank and in hand
 8 
114,090
97,115

  
180,204
165,430

Creditors: amounts falling due within one year
 9 
(12,664)
(8,935)

Net current assets
  
 
 
167,540
 
 
156,495

Total assets less current liabilities
  
169,398
157,721

  

Net assets
  
169,398
157,721


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
169,298
157,621

  
169,398
157,721


Page 1

 
TOSCA & WILLOUGHBY LIMITED
REGISTERED NUMBER: 01445648
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider 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 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 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 21 February 2024.




Mr J P Williams
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
TOSCA & WILLOUGHBY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Tosca & Willoughby Limited is a company domiciled in England and Wales, registration number 01445648. The registered address is Home Farm, The Green, Aston Rowant, Oxfordshire, OX49 5ST.

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.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

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.

Page 3

 
TOSCA & WILLOUGHBY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Improvements to property
-
10%
straight line
Plant and machinery
-
25%
reducing balance
Fixtures and fittings
-
15%
reducing balance
Computer equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

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.

Page 4

 
TOSCA & WILLOUGHBY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

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.

 
2.11

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.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

 
2.13

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 3 (2022 - 3).

Page 5

 
TOSCA & WILLOUGHBY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Computer software
Goodwill
Total

£
£
£



Cost


At 1 January 2023
10,148
4
10,152



At 31 December 2023

10,148
4
10,152



Amortisation


At 1 January 2023
10,147
-
10,147



At 31 December 2023

10,147
-
10,147



Net book value



At 31 December 2023
1
4
5



At 31 December 2022
1
4
5



Page 6

 
TOSCA & WILLOUGHBY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
12,291
40,170
8,428
1,900
62,789


Additions
-
-
-
1,221
1,221



At 31 December 2023

12,291
40,170
8,428
3,121
64,010



Depreciation


At 1 January 2023
12,291
39,820
8,200
1,258
61,569


Charge for the year on owned assets
-
88
34
466
588



At 31 December 2023

12,291
39,908
8,234
1,724
62,157



Net book value



At 31 December 2023
-
262
194
1,397
1,853



At 31 December 2022
-
350
228
643
1,221

Page 7

 
TOSCA & WILLOUGHBY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Stocks

2023
2022
£
£

Raw materials and consumables
60,552
66,935

60,552
66,935



7.


Debtors

2023
2022
£
£


Trade debtors
4,962
-

Other debtors
-
1,380

Prepayments and accrued income
600
-

5,562
1,380



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
114,090
97,115

114,090
97,115



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,996
1,530

Corporation tax
5,149
3,806

Other taxation and social security
2,935
1,012

Other creditors
934
710

Accruals and deferred income
1,650
1,877

12,664
8,935


Page 8

 
TOSCA & WILLOUGHBY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



55 (2022 - 55) Ordinary A shares of £1.00 each
55
55
45 (2022 - 45) Ordinary B shares of £1.00 each
45
45

100

100


 
Page 9