Company Registration No. 08039122 (England and Wales)
Todd Investments Limited
Unaudited accounts
for the year ended 31 December 2023
Todd Investments Limited
Unaudited accounts
Contents
Todd Investments Limited
Company Information
for the year ended 31 December 2023
Company Number
08039122 (England and Wales)
Registered Office
Layfield Farm
Sheppey Way, Bobbing
Sittingbourne
Kent
ME9 8QS
Accountants
Attire Accounting Limited
45 Granville Drive
Herne Bay
Kent
CT6 7QZ
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Todd Investments Limited
for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Todd Investments Limited for the year ended
31 December 2023 as set out on pages
5 -
9 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of Todd Investments Limited, as a body, in accordance with the terms of our engagement letter dated 23 June 2017. Our work has been undertaken solely to prepare for your approval the accounts of Todd Investments Limited and state those matters that we have agreed to state to the Board of Directors of Todd Investments Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Todd Investments Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Todd Investments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Todd Investments Limited. You consider that Todd Investments Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Todd Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Attire Accounting Limited
Chartered Certified Accountants
45 Granville Drive
Herne Bay
Kent
CT6 7QZ
25 September 2024
Todd Investments Limited
Statement of financial position
as at 31 December 2023
Tangible assets
2,003
2,671
Investment property
447,989
447,989
Cash at bank and in hand
833
1,035
Creditors: amounts falling due within one year
(9,344)
(9,079)
Net current assets
18,322
7,529
Total assets less current liabilities
468,414
458,289
Creditors: amounts falling due after more than one year
(10,919)
(18,004)
Provisions for liabilities
Net assets
457,114
439,777
Called up share capital
1
1
Revaluation reserve
69,384
69,384
Profit and loss account
387,729
370,392
Shareholders' funds
457,114
439,777
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 September 2024 and were signed on its behalf by
G C Todd
Director
Company Registration No. 08039122
Todd Investments Limited
Notes to the Accounts
for the year ended 31 December 2023
Todd Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 08039122. The registered office is Layfield Farm, Sheppey Way, Bobbing, Sittingbourne, Kent, ME9 8QS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Todd Investments Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Plant & machinery
Fair value at 1 January 2023
447,989
At 31 December 2023
447,989
Investment properties were valued on an open market basis on 31 December 2022 by the director.
6
Investments
Subsidiary undertakings
Valuation at 1 January 2023
100
Valuation at 31 December 2023
100
The company's investments at the balance sheet date include the share capital of the following company:
Aqua Industrial Limited
Nature of business: Industrial cleaning.
Class of shares: Ordinary
Holding: 100%
Aggregate capital and reserves: 2023 £364,700, 2022: £386,678
Amounts falling due within one year
Amounts due from group undertakings etc.
3,733
133
Other debtors
22,800
15,200
Todd Investments Limited
Notes to the Accounts
for the year ended 31 December 2023
8
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
7,085
6,942
Loans from directors
312
312
9
Creditors: amounts falling due after more than one year
2023
2022
10
Deferred taxation
2023
2022
Accelerated capital allowances
381
508
Provision at start of year
508
677
Credited to the profit and loss account
(127)
(169)
Provision at end of year
381
508
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
A contingent liability exists from the purchase of land during a prior year. It relates to proceeds generated on sale of the land, if a planning permission has been granted, part of which are payable to the original vendor. No estimates of the values are possible to be made due to this contingency running until 2063.
13
Transactions with related parties
During the year, total dividends of £23,000 (2022: £21,000) were paid to the director.
During the year rent to the value of £3,600 (2022: £3,600), being the market rate, was received from Aqua Industrial Limited, it's wholly owned subsidiary. In addition to this Aqua Industrial Limited paid expenses on behalf of Todd Investments Limited amounting to £ nil (2022: £1,039). At the balance sheet date there was £3,733 (2022: £133) owed from Aqua Industrial Limited.
During the year rent to the value of £3,600 (2022: £3,600), being the market rate, was received from MGW Property Ltd, a company in which the director, G C Todd, is the sole shareholder. In addition to this the company received management fees from MGW Property Ltd in the sum of £4,000 (2022: £4,000). At the balance sheet date there was £22,800 outstanding (2022: £15,200).
During the year the company received property management fees from the director's mother amounting to £7,200 (2022: £7,200). At the balance sheet date there was no amount outstanding (2022: £ nil).
Todd Investments Limited
Notes to the Accounts
for the year ended 31 December 2023
The ultimate controlling party is the director and shareholder, G C Todd.
15
Average number of employees
During the year the average number of employees was 1 (2022: 1).