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Registration number: 05627686

Toby Blackwell Limited

Unaudited Filleted Financial Statements

for the Period from 1 July 2022 to 31 December 2023

 

Toby Blackwell Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Toby Blackwell Limited

(Registration number: 05627686)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,179

3,179

Investment property

5

250,000

403,805

Investments

6

102

381,890

 

253,281

788,874

Current assets

 

Debtors

7

5,715,714

1,495,823

Cash at bank and in hand

 

6,610,371

669,694

 

12,326,085

2,165,517

Creditors: Amounts falling due within one year

8

(82,886)

(711,345)

Net current assets

 

12,243,199

1,454,172

Net assets

 

12,496,480

2,243,046

Capital and reserves

 

Called up share capital

9

28,115,002

16,600,002

Retained earnings

(15,618,522)

(14,356,956)

Shareholders' funds

 

12,496,480

2,243,046

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 September 2024 and signed on its behalf by:
 

 

Toby Blackwell Limited

(Registration number: 05627686)
Balance Sheet as at 31 December 2023

.........................................
Mr J Blackwell
Director

 

Toby Blackwell Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Gardiner Close
Abingdon
Oxfordshire
OX14 3YA
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. This is the first year that the company has prepared accounts under FRS102 1A, and the impact of the transition is detailed in note 14.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Disclosure of long or short period

The accounts cover an 18 month accounting period to align the company's year end with other group companies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Toby Blackwell Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Toby Blackwell Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 5 (2022 - 5).

 

Toby Blackwell Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023

4

Tangible assets

Fixtures, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2022

57,124

57,124

Disposals

(38,524)

(38,524)

At 31 December 2023

18,600

18,600

Depreciation

At 1 July 2022

53,945

53,945

Eliminated on disposal

(38,524)

(38,524)

At 31 December 2023

15,421

15,421

Carrying amount

At 31 December 2023

3,179

3,179

At 30 June 2022

3,179

3,179

5

Investment properties

2023
£

At 1 July 2022

403,805

Fair value adjustments

(153,805)

At 31 December 2023

250,000

This class of assets has a current open market rental value of £250,000 (2022 - £403,805) and a carrying amount at historical cost of £383,875 (2022 - £383,875). The depreciation on this historical cost is £nil (2021 - £nil).

The investment property was valued during the year by an independent valuer. The basis of the valuation was open market value.

Impairment of investment property

The amount of impairment loss included in profit or loss is £153,805 (2022 - £Nil).

 

Toby Blackwell Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023

6

Investments in group undertakings

2023
£

2022
£

Investments in subsidiaries

102

381,890

Investments in associates

-

-

102

381,890

Subsidiaries

£

Cost or valuation

At 1 July 2022

381,890

Additions

100

At 31 December 2023

381,990

Provision

Provision - write back

381,888

At 31 December 2023

381,888

Carrying amount

At 31 December 2023

102

At 30 June 2022

381,890


 

Associates

£

Cost

At 1 July 2022

216,126

At 31 December 2023

216,126

Provision

At 1 July 2022

216,126

At 31 December 2023

216,126

Carrying amount

At 31 December 2023

-

At 30 June 2022

-

 

Toby Blackwell Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Trebetherick Stores Limited

7 Gardiner Close, Abingdon

Ordinary

100%

100%

 

     

Appletree Asset Lending Limited

112 Jermyn Street, London

Ordinary

100%

100%

 

     

Osse Forestry Limited

7 Gardiner Close, Abingdon

Ordinary

100%

0%

 

     

Associates

Sugar & Spice (Delectable Morsels) Limited

Unit 19, Battersea Business Centre, 99-109 Lavender Hill, London

A voting (also holds 80% B non-voting)

48%

48%

 

     

Subsidiary undertakings

Trebetherick Stores Limited

The principal activity of Trebetherick Stores Limited is a general store. During the prior year, the company's trading premises were sold and trading activities ceased. The company was dissolved 21st May 2024.

Appletree Asset Lending Limited

The principal activity of Appletree Asset Lending Limited is business support services..

Osse Forestry Limited

The principal activity of Osse Forestry Limited is support services to forestry.

Associates

Sugar & Spice (Delectable Morsels) Limited

The principal activity of Sugar & Spice (Delectable Morsels) Limited is professional catering service company and was dissolved 9th January 2024.

 

Toby Blackwell Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023

7

Debtors

Note

2023
£

2022
£

Trade debtors

 

3,667

8,852

Amounts owed by group undertakings and undertakings in which the company has a participating interest

5,708,237

1,445,864

Other debtors

 

3,810

41,107

 

5,715,714

1,495,823

Details of non-current trade and other debtors

£Nil (2022 - £Nil) of other debtors is classified as non current.

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

13,819

9,421

Taxation and social security

3,705

3,254

Accruals and deferred income

19,374

51,000

Other creditors

45,988

647,670

82,886

711,345

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

28,115,002

28,115,002

16,600,002

16,600,002

         

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of contingencies not included in the balance sheet is £Nil (2022 - £2,500,000).