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REGISTERED NUMBER: 03821024 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

TOKAR LIMITED

TOKAR LIMITED (REGISTERED NUMBER: 03821024)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TOKAR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr D A Page
Mrs M R Page





SECRETARY: Mrs M R Page





REGISTERED OFFICE: Lazy W
Yapton Lane
Walberton
West Sussex
BN18 0AS





REGISTERED NUMBER: 03821024 (England and Wales)





ACCOUNTANTS: Lewis Brownlee (Chichester) Limited
Chartered Accountants
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ

TOKAR LIMITED (REGISTERED NUMBER: 03821024)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 15,172 7,201
Investment property 5 665,928 665,928
681,100 673,129

CURRENT ASSETS
Debtors 6 11,997 20,860
Cash at bank 63,537 27,483
75,534 48,343
CREDITORS
Amounts falling due within one year 7 223,815 130,008
NET CURRENT LIABILITIES (148,281 ) (81,665 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

532,819

591,464

CREDITORS
Amounts falling due after more than one
year

8

(105,565

)

(96,800

)

PROVISIONS FOR LIABILITIES 10 (65,412 ) (51,959 )
NET ASSETS 361,842 442,705

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 11 361,642 442,505
SHAREHOLDERS' FUNDS 361,842 442,705

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.

TOKAR LIMITED (REGISTERED NUMBER: 03821024)

BALANCE SHEET - 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 12 September 2024 and were signed on its behalf by:





Mr D A Page - Director


TOKAR LIMITED (REGISTERED NUMBER: 03821024)

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


1. STATUTORY INFORMATION

Tokar 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 financial statements are presented in Sterling (£), which is also the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest whole £1.

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 as modified by the revaluation of certain assets.

Revenue recognition
Revenue represents rental income earned, on a time basis, on the investment properties held by the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on 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.

Financial instruments
Financial instruments are classified by the director as basic or advanced following the conditions in FRS102 section 1A. Basic financial instruments are recognised at amortised cost using effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

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.

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.

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

TOKAR LIMITED (REGISTERED NUMBER: 03821024)

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


3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£
COST
At 1 February 2023 57,541
Additions 13,291
Disposals (1,312 )
At 31 January 2024 69,520
DEPRECIATION
At 1 February 2023 50,340
Charge for year 5,320
Eliminated on disposal (1,312 )
At 31 January 2024 54,348
NET BOOK VALUE
At 31 January 2024 15,172
At 31 January 2023 7,201

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 February 2023
and 31 January 2024 665,928
NET BOOK VALUE
At 31 January 2024 665,928
At 31 January 2023 665,928

The investment properties have been revalued by the directors at the balance sheet date to reflect their assessment of the open market value. The historical cost of the investment properties is £261,535 (2023 - £261,535). A provision has been made for the deferred tax arising on the revaluation.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 6,434 7,732
Other debtors 5,563 13,128
11,997 20,860

TOKAR LIMITED (REGISTERED NUMBER: 03821024)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 40,654 2,262
Taxation and social security 1,001 19,425
Other creditors 182,160 108,321
223,815 130,008

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Other creditors 105,565 96,800

9. LEASING AGREEMENTS
At 31 January 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £221,940 (2023 – £274,940)

10. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 65,412 51,959

Deferred tax
£
Balance at 1 February 2023 51,959
Movement during the year 13,453
Balance at 31 January 2024 65,412

Within deferred tax is a provision arising from the revaluation of the investment property totalling £66,566 (2023 - £50,590).

11. RESERVES

Retained earnings included non-distributable reserve of £337,827 (2023 - £353,803).