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Registered number: 11607389
Tutto Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Thomas Tax (Coventry) Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11607389
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 126,902 144,747
Tangible Assets 5 2,579 1,010
129,481 145,757
CURRENT ASSETS
Debtors 6 1,091 1,273
Cash at bank and in hand 204 1,490
1,295 2,763
Creditors: Amounts Falling Due Within One Year 7 (262,224 ) (261,645 )
NET CURRENT ASSETS (LIABILITIES) (260,929 ) (258,882 )
TOTAL ASSETS LESS CURRENT LIABILITIES (131,448 ) (113,125 )
NET LIABILITIES (131,448 ) (113,125 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account (131,450 ) (113,127 )
SHAREHOLDERS' FUNDS (131,448) (113,125)
Page 1
Page 2
For the year ending 31 October 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Peter Magnani
Director
18th October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Tutto Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11607389 . The registered office is 30 Binley Road, Coventry, West Midlands, CV3 1JA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their expected useful economic lives, which is 10 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 5 years
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Intangible Assets
Development Costs
£
Cost
As at 1 November 2022 182,271
Additions 340
As at 31 October 2023 182,611
Amortisation
As at 1 November 2022 37,524
Provided during the period 18,185
As at 31 October 2023 55,709
Net Book Value
As at 31 October 2023 126,902
As at 1 November 2022 144,747
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Page 4
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 November 2022 1,263
Additions 2,028
As at 31 October 2023 3,291
Depreciation
As at 1 November 2022 253
Provided during the period 459
As at 31 October 2023 712
Net Book Value
As at 31 October 2023 2,579
As at 1 November 2022 1,010
6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income - 107
VAT 1,091 1,166
1,091 1,273
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 2,114 15,599
Other loans 20,327 -
Accruals and deferred income 1,043 950
Directors' loan accounts 238,740 245,096
262,224 261,645
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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