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REGISTERED NUMBER: SC646508 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Tonacheois Limited

Tonacheois Limited (Registered number: SC646508)






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


Tonacheois Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Allan J MacDonald





REGISTERED OFFICE: 20 West Gerinish
Isle Of South Uist
HS8 5RW





REGISTERED NUMBER: SC646508 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Tonacheois Limited (Registered number: SC646508)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,757 7,196
Investment property 5 974,889 974,889
980,646 982,085

CURRENT ASSETS
Debtors 6 63,676 28,236
Cash at bank 5,755 6,623
69,431 34,859
CREDITORS
Amounts falling due within one year 7 322,134 331,381
NET CURRENT LIABILITIES (252,703 ) (296,522 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

727,943

685,563

CREDITORS
Amounts falling due after more than one
year

8

(698,652

)

(675,932

)

PROVISIONS FOR LIABILITIES 10 (1,094 ) (1,367 )
NET ASSETS 28,197 8,264

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings 28,196 8,263
SHAREHOLDERS' FUNDS 28,197 8,264

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 director acknowledges his 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.

Tonacheois Limited (Registered number: SC646508)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 September 2024 and were signed by:





Allan J MacDonald - Director


Tonacheois Limited (Registered number: SC646508)

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

1. STATUTORY INFORMATION

Tonacheois Limited is a private company, limited by shares , registered in Scotland. 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. 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fittings and equipment - 20% on reducing balance

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
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Tonacheois Limited (Registered number: SC646508)

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.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fittings
and
equipment
£   
COST
At 1 April 2023
and 31 March 2024 11,244
DEPRECIATION
At 1 April 2023 4,048
Charge for year 1,439
At 31 March 2024 5,487
NET BOOK VALUE
At 31 March 2024 5,757
At 31 March 2023 7,196

Tonacheois Limited (Registered number: SC646508)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 974,889
NET BOOK VALUE
At 31 March 2024 974,889
At 31 March 2023 974,889

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2023 974,889

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 63,676 28,236

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 5,184 929
Other creditors 316,950 330,452
322,134 331,381

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 698,652 675,932

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 years 698,652 675,932

Tonacheois Limited (Registered number: SC646508)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 698,652 675,932

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,094 1,367

Deferred
tax
£   
Balance at 1 April 2023 1,367
Credit to Statement of Income and Retained Earnings during year (273 )
Balance at 31 March 2024 1,094

11. CALLED UP SHARE CAPITAL

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

12. ULTIMATE CONTROLLING PARTY

The controlling party is Allan J MacDonald.