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Registration number: 09778186

Tolyn Consult Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Tolyn Consult Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Tolyn Consult Ltd

Company Information

Director

Ms Lynn Agoye

Registered office

Radius House, 4th Floor, 51 Clarendon Road
Watford
WD17 1HP

Accountants

Clever Accounts Ltd
Brookfield Court Selby Road
Garforth
Leeds
LS25 1NB

 

Tolyn Consult Ltd

(Registration number: 09778186)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

21,919

29,226

Current assets

 

Debtors

18,396

30,138

Cash at bank and in hand

 

1,005

1,103

 

19,401

31,241

Creditors: Amounts falling due within one year

(6,121)

(6,121)

Net current assets

 

13,280

25,120

Total assets less current liabilities

 

35,199

54,346

Creditors: Amounts falling due after more than one year

(41,306)

(51,308)

Net (liabilities)/assets

 

(6,107)

3,038

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

(6,207)

2,938

Shareholders' (deficit)/funds

 

(6,107)

3,038

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges her 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Tolyn Consult Ltd

(Registration number: 09778186)
Balance Sheet as at 30 September 2023

Approved and authorised by the director on 7 October 2024
 

.........................................

Ms Lynn Agoye
Director

 

Tolyn Consult Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

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

The address of its registered office is:
Radius House, 4th Floor, 51 Clarendon Road
Watford
WD17 1HP

These financial statements were authorised for issue by the director on 7 October 2024.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Tolyn Consult Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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

Computer Equipment

3 year straight line basis

Motor Vehicle

25% Reducing balance

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.

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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Tolyn Consult Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2022

1,420

38,968

40,388

At 30 September 2023

1,420

38,968

40,388

Depreciation

At 1 October 2022

1,420

9,742

11,162

Charge for the year

-

7,307

7,307

At 30 September 2023

1,420

17,049

18,469

Carrying amount

At 30 September 2023

-

21,919

21,919

At 30 September 2022

-

29,226

29,226

5

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Oridnary Share of £1 each

100

100

100

100

       

6

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

41,306

51,308