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REGISTERED NUMBER: 05893596 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

TOFCO CPP LIMITED

TOFCO CPP LIMITED (REGISTERED NUMBER: 05893596)






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

Statement of Directors' Responsibilities 7

Independent Chartered Accountants' Review Report 8


TOFCO CPP LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr N R Toft Chairman & Managing
Mr D J Hodgkins
Mrs A Paice
Mr K Doherty
Mrs G E R Toft
Mr A J Maltman



SECRETARY:



REGISTERED OFFICE: Meadowfield Ind. Estate
Ponteland
Northumberland
NE20 9SJ



REGISTERED NUMBER: 05893596 (England and Wales)



ACCOUNTANTS: Sagoo & Co
Chartered Accountants
63 The Grove
Ealing
London
W5 5LL



BANKERS: HSBC

TOFCO CPP LIMITED (REGISTERED NUMBER: 05893596)

Balance Sheet
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 143,786 77,368

CURRENT ASSETS
Stocks 1,113,969 1,113,349
Debtors 5 1,795,059 1,456,061
Cash at bank 94,386 14,135
3,003,414 2,583,545
CREDITORS
Amounts falling due within one year 6 670,804 615,537
NET CURRENT ASSETS 2,332,610 1,968,008
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,476,396

2,045,376

PROVISIONS FOR LIABILITIES 32,033 12,894
NET ASSETS 2,444,363 2,032,482

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 2,442,363 2,030,482
SHAREHOLDERS' FUNDS 2,444,363 2,032,482

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.

TOFCO CPP LIMITED (REGISTERED NUMBER: 05893596)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2024 and were signed on its behalf by:





Mr N R Toft Chairman & Managing - Director


TOFCO CPP LIMITED (REGISTERED NUMBER: 05893596)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Tofco CPP 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.

Turnover and revenue recognition
Turnover and revenue recognition represents the total invoice value, excluding value added tax, of sales made during the year. The revenue is recognised for the services as the services are performed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 4% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stock and work in progress are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


TOFCO CPP LIMITED (REGISTERED NUMBER: 05893596)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transaction. All the differences are taken to the profit & loss account.

Pension costs and other post-retirement benefits
The company is operating a stakeholder pension scheme.

Going concern
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern, which the directors consider appropriate having regard to the circumstances.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 38 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 15,786 225,996 52,031 15,800 309,613
Additions 7,860 47,794 38,571 - 94,225
At 31 March 2024 23,646 273,790 90,602 15,800 403,838
DEPRECIATION
At 1 April 2023 11,081 171,059 34,516 15,589 232,245
Charge for year 846 19,101 7,807 53 27,807
At 31 March 2024 11,927 190,160 42,323 15,642 260,052
NET BOOK VALUE
At 31 March 2024 11,719 83,630 48,279 158 143,786
At 31 March 2023 4,705 54,937 17,515 211 77,368

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,679,223 1,374,967
Amounts owed by group undertakings 83,159 13,802
Other debtors 9,607 46,314
Directors' current accounts - 2,369
Prepayments 23,070 18,609
1,795,059 1,456,061

TOFCO CPP LIMITED (REGISTERED NUMBER: 05893596)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 1,366,406 910,685
Tax 138,966 185,197
Social security and other taxes 61,915 55,520
Other creditors 26,371 16,686
Invoice discounting (1,067,386 ) (744,654 )
VAT liability 44,821 82,194
Accrued expenses 99,711 109,909
670,804 615,537

The bank loans and overdrafts are secured by a fixed and floating charge on all of the company's assets.

TOFCO CPP LIMITED (REGISTERED NUMBER: 05893596)

Statement of Directors' Responsibilities
FOR THE YEAR ENDED 31 MARCH 2024


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


ON BEHALF OF THE BOARD:





Mr N R Toft Chairman & Managing - Director

24 October 2024

Independent Chartered Accountants' Review Report to the Directors of
Tofco CPP Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

We have reviewed the financial statements of Tofco CPP Limited for the year ended 31 March 2024, which comprise the Income Statement, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Directors' responsibility for the financial statements
As explained more fully in the Statement of Directors' Responsibilities set out on page seven, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountants' responsibility
Our responsibility is to express a conclusion on the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial statements' and ICAEW Technical Release TECH 09/13AAF (Revised) 'Assurance review engagements on historical financial statements'. ISRE 2400 (Revised) requires us to conclude whether anything has come to our attention that causes us to believe that the financial statements, taken as a whole, are not prepared, in all material respects, in accordance with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). ISRE 2400 (Revised) also requires us to comply with the ICAEW Code of Ethics and the FRC's Ethical Standard, as applicable.

Scope of the assurance review
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures, primarily consisting of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK). Accordingly, we do not express an audit opinion on these financial statements.

Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

- so as to give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
- in accordance with United Kingdom Generally Accepted Accounting Practice; and
- in accordance with the requirements of the Companies Act 2006.

Use of our report
This report is made solely to the company's directors, as a body, in accordance with our terms of engagement. Our review has been undertaken so that we might state to the directors those matters that we have agreed with them in a reviewer's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's directors as a body for our work, for this report, or for the conclusions we have formed.




Sagoo & Co
Chartered Accountants
63 The Grove
Ealing

Independent Chartered Accountants' Review Report to the Directors of
Tofco CPP Limited

London
W5 5LL


25 October 2024