Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11751801 2023-04-01 2024-03-31 11751801 2022-04-01 2023-03-31 11751801 2024-03-31 11751801 2023-03-31 11751801 c:Director2 2023-04-01 2024-03-31 11751801 d:FurnitureFittings 2023-04-01 2024-03-31 11751801 d:FurnitureFittings 2024-03-31 11751801 d:FurnitureFittings 2023-03-31 11751801 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11751801 d:CurrentFinancialInstruments 2024-03-31 11751801 d:CurrentFinancialInstruments 2023-03-31 11751801 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11751801 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11751801 d:ShareCapital 2024-03-31 11751801 d:ShareCapital 2023-03-31 11751801 d:RetainedEarningsAccumulatedLosses 2024-03-31 11751801 d:RetainedEarningsAccumulatedLosses 2023-03-31 11751801 c:OrdinaryShareClass1 2023-04-01 2024-03-31 11751801 c:OrdinaryShareClass1 2024-03-31 11751801 c:OrdinaryShareClass1 2023-03-31 11751801 c:OrdinaryShareClass2 2023-04-01 2024-03-31 11751801 c:OrdinaryShareClass2 2024-03-31 11751801 c:OrdinaryShareClass2 2023-03-31 11751801 c:FRS102 2023-04-01 2024-03-31 11751801 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11751801 c:FullAccounts 2023-04-01 2024-03-31 11751801 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11751801 6 2023-04-01 2024-03-31 11751801 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11751801










Tomilloe Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 March 2024

 
Tomilloe Limited
 

Contents



Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 8


 
Tomilloe Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Tomilloe Limited for the year ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tomilloe Limited for the year ended 31 March 2024 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Tomilloe Limited, as a body, in accordance with the terms of our engagement letter dated 29 June 2022Our work has been undertaken solely to prepare for your approval the financial statements of Tomilloe Limited and state those matters that we have agreed to state to the Board of directors of Tomilloe Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tomilloe Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Tomilloe Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Tomilloe Limited. You consider that Tomilloe Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Tomilloe 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 financial statements.

  



Kreston Reeves LLP
Chartered Accountants
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
30 September 2024
Page 1

 
Tomilloe Limited
Registered number: 11751801

Balance sheet
As at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,619
316

Investments
 5 
790,000
790,000

  
793,619
790,316

Current assets
  

Debtors: amounts falling due within one year
 6 
-
250

Bank and cash balances
  
38,256
57,474

  
38,256
57,724

Creditors: amounts falling due within one year
 7 
(831,633)
(837,560)

Net current liabilities
  
 
 
(793,377)
 
 
(779,836)

Total assets less current liabilities
  
242
10,480

  

Net assets
  
242
10,480


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
142
10,380

  
242
10,480


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


R Fairweather
Director
Date: 30 September 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
Tomilloe Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

1.


General information

Tomilloe Limited is a private company limited by shares which was incorporated in England and Wales.
The company’s registered office and principal place of business is 48 London Road, Canterbury, Kent, United Kingdom, CT2 8LF. 
The financial statements are presented in pound Sterling, and rounded to the nearest pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The company continues with the financial support of the directors who are committed to funding the company.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Valuation of investments

Investment properties are carried at fair value determined annually by the directors. The fair value is derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recongnised in the profit or loss account.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
Tomilloe Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of
Page 4

 
Tomilloe Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.8

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 5

 
Tomilloe Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)

  
2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 April 2023
1,000


Additions
4,510



At 31 March 2024

5,510



Depreciation


At 1 April 2023
684


Charge for the year on owned assets
1,207



At 31 March 2024

1,891



Net book value



At 31 March 2024
3,619



At 31 March 2023
316

Page 6

 
Tomilloe Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

5.


Fixed asset investments





Investment Properties

£



Cost or valuation


At 1 April 2023
790,000



At 31 March 2024
790,000




Investment properites were valued at market value by the directors as at 31 March 2024.

6.


Debtors

2024
2023
£
£


Prepayments and accrued income
-
250

-
250



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
-
5,677

Other creditors
831,303
831,303

Accruals and deferred income
330
580

831,633
837,560



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



40 (2023 - 40) Ordinary "A" Shares shares of £1.00 each
40
40
60 (2023 - 60) Ordinary "B" Shares shares of £1.00 each
60
60

100

100


Page 7

 
Tomilloe Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

9.


Related party transactions

At the balance sheet date the company owed the company directors £831,303 (2023: £831,303). These loans are interest free and no date has been fixed for repayment.


10.


Controlling party

There is no ultimate controlling party of the company.


Page 8