2023-02-012024-01-312024-01-31false09975396Toxo Construction 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Toxo Construction Limited

Registered Number
09975396
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

Toxo Construction Limited
Company Information
for the year from 1 February 2023 to 31 January 2024

Director

Vytenis Putvis

Company Secretary

Vytenis Putvis

Registered Address

Unit 9 Northend Trading Estate
Erith
DA8 3PP

Registered Number

09975396 (England and Wales)
Toxo Construction Limited
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Current assets
Stocks36,500,1002,980,000
Debtors41,163,189675,966
Cash at bank and on hand1,90014,691
7,665,1893,670,657
Creditors amounts falling due within one year5(7,623,880)(3,629,725)
Net current assets (liabilities)41,30940,932
Total assets less current liabilities41,30940,932
Net assets41,30940,932
Capital and reserves
Called up share capital11
Profit and loss account41,30840,931
Shareholders' funds41,30940,932
The financial statements were approved and authorised for issue by the Director on 31 October 2024, and are signed on its behalf by:
Vytenis Putvis
Director
Registered Company No. 09975396
Toxo Construction Limited
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. There were no material departures from that standard. The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
Going concern
The financial statements have been prepared in accordance with the accounting principles appropriate to a going concern.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year00
3.Stocks

2024

2023

££
Work in progress6,500,1002,980,000
Total6,500,1002,980,000
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables118,948272,745
Other debtors71,2601
Prepayments and accrued income972,981403,220
Total1,163,189675,966
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables2,151,2211,401,092
Bank borrowings and overdrafts-152,700
Taxation and social security493,403450,920
Other creditors4,979,2561,625,013
Total7,623,8803,629,725