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REGISTERED NUMBER: 00595327 (England and Wales)















Financial Statements

for the Year Ended 31 January 2024

for

C.R. Toogood & Co. Limited

C.R. Toogood & Co. Limited (Registered number: 00595327)






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 & Co. Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: P G Toogood
R M Toogood





SECRETARY: J S Forbes-Wilson





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





REGISTERED NUMBER: 00595327 (England and Wales)





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

C.R. Toogood & Co. Limited (Registered number: 00595327)

Statement of Financial Position
31 January 2024

31/1/24 31/1/23
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Property, plant and equipment 6 102,767 79,248
102,767 79,248

CURRENT ASSETS
Debtors 7 1,383,774 926,685
Cash at bank 1,467,143 1,261,192
2,850,917 2,187,877
CREDITORS
Amounts falling due within one year 8 (2,240,988 ) (1,602,156 )
NET CURRENT ASSETS 609,929 585,721
TOTAL ASSETS LESS CURRENT
LIABILITIES

712,696

664,969

CREDITORS
Amounts falling due after more than one
year

9

(29,582

)

-

PROVISIONS FOR LIABILITIES 10 (10,840 ) (8,819 )
NET ASSETS 672,274 656,150

CAPITAL AND RESERVES
Called up share capital 3,360 3,360
Share premium 2,960 2,960
Retained earnings 665,954 649,830
SHAREHOLDERS' FUNDS 672,274 656,150

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 & Co. Limited (Registered number: 00595327)

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 Statement of Income and Retained Earnings 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 & Co. Limited (Registered number: 00595327)

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

1. STATUTORY INFORMATION

C.R. Toogood & Co. 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.

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.

Turnover
Revenue is recognised at the fair value of the consideration received or receivable for sale of services in the ordinary nature of the business. Revenue is shown net of Value Added Tax for services provided to external customers and is shown net of commissions paid to third parties.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - Straight line over 3 years

Impairment of fixed assets
Fixed assets are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable or as otherwise required by relevant accounting standards.

Shortfalls between the carrying value of fixed assets and their recoverable amounts, being the higher of net realisable value and value-in-use, are recognised as impairments. Impairment losses are recognised in the profit and loss account.


C.R. Toogood & Co. Limited (Registered number: 00595327)

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

3. ACCOUNTING POLICIES - continued
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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

For defined contribution schemes the amount charged to the profit and loss account in respect of pension costs and other post retirement benefits is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense in the period in which these are incurred.

The holiday year for the company ends at the reporting date, however where employees are allowed to carry forward unused holiday, the cost of this holiday pay is accrued for in the balance sheet and charged to the profit or loss in the period to which the holiday entitlement relates.

C.R. Toogood & Co. Limited (Registered number: 00595327)

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

3. ACCOUNTING POLICIES - continued

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.

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.

C.R. Toogood & Co. Limited (Registered number: 00595327)

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

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 22 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 February 2023
and 31 January 2024 96,464
Amortisation
At 1 February 2023
and 31 January 2024 96,464
Net book value
At 31 January 2024 -
At 31 January 2023 -

6. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Cost
At 1 February 2023 124,910 100,086 94,989 319,985
Additions 8,109 52,072 2,965 63,146
Disposals (7,320 ) (59,060 ) - (66,380 )
At 31 January 2024 125,699 93,098 97,954 316,751
Depreciation
At 1 February 2023 84,520 85,698 70,519 240,737
Charge for year 10,264 12,544 15,150 37,958
Eliminated on disposal (7,050 ) (57,661 ) - (64,711 )
At 31 January 2024 87,734 40,581 85,669 213,984
Net book value
At 31 January 2024 37,965 52,517 12,285 102,767
At 31 January 2023 40,390 14,388 24,470 79,248

7. DEBTORS
31/1/24 31/1/23
£    £   
Amounts falling due within one year:
Trade debtors 372,288 329,376
Amounts owed by group undertakings 700,988 550,831
Other debtors 290,864 46,478
1,364,140 926,685

C.R. Toogood & Co. Limited (Registered number: 00595327)

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

7. DEBTORS - continued
31/1/24 31/1/23
£    £   
Amounts falling due after more than one year:
Other debtors 19,634 -

Aggregate amounts 1,383,774 926,685

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Hire purchase contracts 6,007 -
Trade creditors 1,248,274 844,232
Taxation and social security 32,723 32,210
Other creditors 953,984 725,714
2,240,988 1,602,156

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/1/24 31/1/23
£    £   
Hire purchase contracts 29,582 -

10. PROVISIONS FOR LIABILITIES
31/1/24 31/1/23
£    £   
Deferred tax 10,840 8,819

Deferred
tax
£   
Balance at 1 February 2023 8,819
Provided during year 2,021
Balance at 31 January 2024 10,840

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.