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REGISTERED NUMBER: 03972879 (England and Wales)



















Financial Statements

for the Year Ended 31 March 2024

for

Toadhole Limited

Toadhole Limited (Registered number: 03972879)






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


Toadhole Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S P Butler
P J Butler
S Butler





SECRETARY: N L Butler





REGISTERED OFFICE: The Old Vicarage
Market Street
Castle Donington
Derby
Derbyshire
DE74 2JB





REGISTERED NUMBER: 03972879 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Toadhole Limited (Registered number: 03972879)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,804,279 1,865,441
Investments 5 85,084 219,972
Investment property 6 4,670,000 4,569,425
7,559,363 6,654,838

CURRENT ASSETS
Stocks 151,361 131,385
Debtors 7 619,588 478,641
Cash at bank 2,388,366 4,672,582
3,159,315 5,282,608
CREDITORS
Amounts falling due within one year 8 670,141 896,364
NET CURRENT ASSETS 2,489,174 4,386,244
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,048,537

11,041,082

CREDITORS
Amounts falling due after more than one
year

9

987,990

1,087,990
NET ASSETS 9,060,547 9,953,092

CAPITAL AND RESERVES
Called up share capital 2,030,000 3,530,000
Retained earnings 7,030,547 6,423,092
SHAREHOLDERS' FUNDS 9,060,547 9,953,092

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 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.

Toadhole Limited (Registered number: 03972879)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:





S P Butler - Director


Toadhole Limited (Registered number: 03972879)

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

1. STATUTORY INFORMATION

Toadhole 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.

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.

Preparation of consolidated financial statements
The financial statements contain information about Toadhole Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents crop sales, electricity generated and net rental income excluding value added tax.

Crop sales are recognised where a contract for sale is in existence.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold Property - Straight line over 20 years
Plant and machinery - 20% on cost and 10% on cost
Wind turbines - Straight line over 20 years
Computer equipment - 33% on cost

Freehold land is not depreciated.

Investment property
Investment property is not depreciated but is revalued annually at its fair value, in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss and transferred to a fair value reserve.

Stocks
Growing crops are valued at the lower of cost and net realisable value. Cost includes seeds, fertilisers, labour and a proportion of direct overheads where appropriate.

Growing crops subject to forward contracts at the year end includes costs plus attributable 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.

Fixed asset investments
Fixed asset investments are revalued annually to their fair value. Any aggregate surplus of deficit arising from changes in fair value is recognised in the profit and loss account.

Toadhole Limited (Registered number: 03972879)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Freehold Leasehold Plant and
property Property machinery
£    £    £   
COST
At 1 April 2023 - 312,500 137,903
Additions 1,077,579 - 59,535
Disposals - - -
At 31 March 2024 1,077,579 312,500 197,438
DEPRECIATION
At 1 April 2023 - 75,000 59,826
Charge for year - 25,000 25,236
Eliminated on disposal - - -
At 31 March 2024 - 100,000 85,062
NET BOOK VALUE
At 31 March 2024 1,077,579 212,500 112,376
At 31 March 2023 - 237,500 78,077

Wind Computer
turbines equipment Totals
£    £    £   
COST
At 1 April 2023 1,990,748 9,950 2,451,101
Additions - 1,918 1,139,032
Disposals - (2,441 ) (2,441 )
At 31 March 2024 1,990,748 9,427 3,587,692
DEPRECIATION
At 1 April 2023 443,415 7,419 585,660
Charge for year 148,223 1,735 200,194
Eliminated on disposal - (2,441 ) (2,441 )
At 31 March 2024 591,638 6,713 783,413
NET BOOK VALUE
At 31 March 2024 1,399,110 2,714 2,804,279
At 31 March 2023 1,547,333 2,531 1,865,441

Included in cost of land and buildings is freehold land of £ 1,077,579 (2023 - £ 0 ) which is not depreciated.

Toadhole Limited (Registered number: 03972879)

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

5. FIXED ASSET INVESTMENTS
Listed Unlisted
investments investments Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 219,922 50 219,972
Disposals (149,624 ) - (149,624 )
Revaluations 14,736 - 14,736
At 31 March 2024 85,034 50 85,084
NET BOOK VALUE
At 31 March 2024 85,034 50 85,084
At 31 March 2023 219,922 50 219,972

Cost or valuation at 31 March 2024 is represented by:

Listed Unlisted
investments investments Totals
£    £    £   
Valuation in 2024 85,034 50 85,084

If listed investments had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 159,982 354,283

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 4,569,425
Revaluations 100,575
At 31 March 2024 4,670,000
NET BOOK VALUE
At 31 March 2024 4,670,000
At 31 March 2023 4,569,425

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 4,670,000

Toadhole Limited (Registered number: 03972879)

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

6. INVESTMENT PROPERTY - continued

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

2024 2023
£    £   
Cost 5,067,972 5,067,972
Aggregate depreciation (1,249,249 ) (1,147,890 )

Investment property was valued on a fair value basis on 31 March 2024 by the director, S P Butler .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 31,268 51,961
Other debtors 143,020 23,658
Prepayments and accrued income 445,300 403,022
619,588 478,641

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 96,000 96,000
Trade creditors 21,468 35,742
Tax 97,987 194,195
Social security and other taxes 26,652 28,315
Amounts owed to related companies 158,735 158,735
Loan from director 41,215 41,189
Accruals and deferred income 228,084 342,188
670,141 896,364

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans 987,990 1,087,990