Company registration number 11551957 (England and Wales)
TODDINGTON STANDARD LOCOMOTIVE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
TODDINGTON STANDARD LOCOMOTIVE LIMITED
COMPANY INFORMATION
Directors
Mr C R M Hinton
Mr C J Irving
Mr A G L Meredith
Mr I H Crowder
Mr S J Everett
Mrs D Southwell
(Appointed 25 November 2023)
Company number
11551957
Registered office
Churchward House
Winchcombe Railway Station
Winchcombe
Gloucestershire
GL54 5LD
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Natwest Bank Plc
740 Waterside Drive
Aztec West
Almondsbury
BS99 5BD
TODDINGTON STANDARD LOCOMOTIVE LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
TODDINGTON STANDARD LOCOMOTIVE LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TODDINGTON STANDARD LOCOMOTIVE LIMITED FOR THE YEAR ENDED 31 AUGUST 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Toddington Standard Locomotive Limited for the year ended 31 August 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 Toddington Standard Locomotive Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Toddington Standard Locomotive Limited and state those matters that we have agreed to state to the board of directors of Toddington Standard Locomotive Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Toddington Standard Locomotive Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Toddington Standard Locomotive 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 profit of Toddington Standard Locomotive Limited. You consider that Toddington Standard Locomotive Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Toddington Standard Locomotive 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.
Ormerod Rutter Limited
21 October 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
TODDINGTON STANDARD LOCOMOTIVE LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
280,756
241,018
Current assets
Debtors
4
998
1,230
Cash at bank and in hand
114,397
66,513
115,395
67,743
Creditors: amounts falling due within one year
5
(995)
(4,334)
Net current assets
114,400
63,409
Net assets
395,156
304,427
Capital and reserves
Called up share capital
6
405,336
316,154
Profit and loss reserves
(10,180)
(11,727)
Total equity
395,156
304,427
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 21 October 2024 and are signed on its behalf by:
Mr S J Everett
Director
Company registration number 11551957 (England and Wales)
TODDINGTON STANDARD LOCOMOTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information
Toddington Standard Locomotive Limited is a private company limited by shares incorporated in England and Wales. The registered office is Churchward House, Winchcombe Railway Station, Winchcombe, Gloucestershire, United Kingdom, GL54 5LD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements have been drawn up on the going concern basis. If the going concern basis were not appropriate, adjustments would have been made to reduce assets to recoverable amounts, to provide for any further liabilities that might arise, and to re-classify fixed assets as current assets and long term liabilities as current liabilities.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Assets in the course of construction are not depreciated.
1.5
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
TODDINGTON STANDARD LOCOMOTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
6
5
3
Tangible fixed assets
Assets under construction
£
Cost
At 1 September 2023
241,018
Additions
39,738
At 31 August 2024
280,756
Depreciation and impairment
At 1 September 2023 and 31 August 2024
Carrying amount
At 31 August 2024
280,756
At 31 August 2023
241,018
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
998
1,230
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
995
4,334
TODDINGTON STANDARD LOCOMOTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
277,836
188,654
277,836
188,654
2024
2023
2024
2023
Preference share capital
Number
Number
£
£
Issued and fully paid
Convertible Non Voting Preference of £1 each
127,500
127,500
127,500
127,500
Preference shares classified as equity
127,500
127,500
Total equity share capital
405,336
316,154
During the year 89,182 Ordinary shares of £1 each were allotted and fully paid for cash at par during the year.
7
Capital commitments
Amounts contracted for but not yet undertaken:
2024
2023
£
£
Acquisition of tangible fixed assets
4,838
6,487
8
Ultimate controlling party
There is no ultimate controlling party.