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REGISTERED NUMBER: 01476114 (England and Wales)















Financial Statements

for the Year Ended 31 January 2024

for

C R Toogood (Holdings) Ltd

C R Toogood (Holdings) Ltd (Registered number: 01476114)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


C R Toogood (Holdings) Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: R M Toogood
P G Toogood
J S Forbes-Wilson





SECRETARY: J S Forbes-Wilson





REGISTERED OFFICE: Duncombe House
Ockham Road North
East Horsley
Leatherhead
Surrey
KT24 6NX





REGISTERED NUMBER: 01476114 (England and Wales)





ACCOUNTANTS: Wilson Partners Limited
Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA

C R Toogood (Holdings) Ltd (Registered number: 01476114)

Statement of Financial Position
31 January 2024

31/1/24 31/1/23
Notes £    £   
FIXED ASSETS
Investments 5 19,261 19,261
Investment property 6 1,500,000 1,500,000
1,519,261 1,519,261

CURRENT ASSETS
Debtors 7 3,190 -
Cash at bank 587,180 578,864
590,370 578,864
CREDITORS
Amounts falling due within one year 8 (706,299 ) (553,875 )
NET CURRENT (LIABILITIES)/ASSETS (115,929 ) 24,989
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,403,332

1,544,250

PROVISIONS FOR LIABILITIES 9 (228,289 ) (228,289 )
NET ASSETS 1,175,043 1,315,961

CAPITAL AND RESERVES
Called up share capital 2,132 2,132
Share premium 65,110 65,110
Revaluation reserve 10 1,049,694 1,049,694
Retained earnings 58,107 199,025
SHAREHOLDERS' FUNDS 1,175,043 1,315,961

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

C R Toogood (Holdings) Ltd (Registered number: 01476114)

Statement of Financial Position - continued
31 January 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 10 September 2024 and were signed on its behalf by:





P G Toogood - Director


C R Toogood (Holdings) Ltd (Registered number: 01476114)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

C R Toogood (Holdings) Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

As at 31 January 2024 the balanced sheet showed net current liabilities of £115,929 (2023 - £24,989 net current assets). The group undertaking has agreed not to demand repayment of funds loaned to the company until such time as cashflow allows. Given this continuing financial support, the directors are of the opinion that it is appropriate to prepare the accounts on a going concern basis.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable.

Current tax is based on taxable profit for the year. Taxable profit differs from total comprehensive income because it excludes items of income or expense that are taxable or deductible in other periods. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted by the reporting date. Deferred tax is not discounted.

Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different periods from their recognition in the financial statements. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits.

Current and deferred tax is charged or credited in profit or loss, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it related to and is also charged or credited to other comprehensive income, or equity.
Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the quantity intends either to settle on a net basis or to realise the asset and settle the liability simultaneously.


C R Toogood (Holdings) Ltd (Registered number: 01476114)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Critical accounting estimates and areas of judgement
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.

Critical accounting estimates and assumptions

The company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The directors do not consider that there are any accounting estimates used in the preparation of these financial statements that are critical to the entity's circumstances.

Critical areas of judgement

The directors do not consider that there are any areas of judgement used in the preparation of these financial statements that are critical to the entity's circumstances.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102, in full, to all of its financial instruments.

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument, and are offset only when the company currently has a legally enforceable right to set off the recognised amounts and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets
Debtors
Debtors which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price. Debtors are subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

Where an arrangement with a debtor constitutes a financing transaction, the debtor is initially and subsequently measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

A provision for impairment of debtors is established when there is evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in profit or loss for the excess of the carrying value of the debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event accruing after the impairment loss was recognised, are recognised immediately in profit or loss.

Financial liabilities and equity
Creditors
Creditors which are payable within one year and which do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

C R Toogood (Holdings) Ltd (Registered number: 01476114)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

3. ACCOUNTING POLICIES - continued

Derecognition of financial assets and liabilities
A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. A financial liability (or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled or expires.

Dividends
Dividends are recognised as liabilities once they are no longer at the discretion of the company.

4. EMPLOYEES AND DIRECTORS

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

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
Cost
At 1 February 2023
and 31 January 2024 19,261
Net book value
At 31 January 2024 19,261
At 31 January 2023 19,261

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

C R Toogood & Co Limited
Registered office:
Nature of business: Insurance brokers
%
Class of shares: holding
Ordinary 100.00

6. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 February 2023
and 31 January 2024 1,500,000
Net book value
At 31 January 2024 1,500,000
At 31 January 2023 1,500,000

C R Toogood (Holdings) Ltd (Registered number: 01476114)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. INVESTMENT PROPERTY - continued

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2015 577,983
Valuation in 2019 200,000
Valuation in 2022 500,000
Cost 222,017
1,500,000

If investment property had not been revalued it would have been included at the following historical cost:

31/1/24 31/1/23
£    £   
Cost 222,017 222,017
Aggregate depreciation (93,240 ) (88,800 )

Investment property was valued on an open market basis on 24 March 2021 by Ashdowns Chartered Surveyors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Other debtors 3,190 -

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Trade creditors 835 1,695
Amounts owed to group undertakings 700,988 550,831
Taxation and social security 4,476 1,349
706,299 553,875

9. PROVISIONS FOR LIABILITIES
31/1/24 31/1/23
£    £   
Deferred tax 228,289 228,289

Deferred
tax
£   
Balance at 1 February 2023 228,289
Balance at 31 January 2024 228,289

C R Toogood (Holdings) Ltd (Registered number: 01476114)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

10. RESERVES
Revaluation
reserve
£   
At 1 February 2023
and 31 January 2024 1,049,694

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.