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REGISTERED NUMBER: SC246378 (Scotland)
















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Tomolillo Ltd

Tomolillo Ltd (Registered number: SC246378)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tomolillo Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mrs A J Tomolillo
Mrs D A Mulholland
M F Mulholland





SECRETARY: Mrs A J Tomolillo





REGISTERED OFFICE: 145 St Vincent Street
Glasgow
G2 5JF





REGISTERED NUMBER: SC246378 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Tomolillo Ltd (Registered number: SC246378)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 555,774 559,881

CURRENT ASSETS
Stocks 20,369 21,429
Debtors 5 5,662 3,379
Cash at bank and in hand 163,960 185,021
189,991 209,829
CREDITORS
Amounts falling due within one year 6 (185,597 ) (256,396 )
NET CURRENT ASSETS/(LIABILITIES) 4,394 (46,567 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

560,168

513,314

CREDITORS
Amounts falling due after more than one
year

7

(381,400

)

(408,625

)

PROVISIONS FOR LIABILITIES (9,540 ) (7,648 )
NET ASSETS 169,228 97,041

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 169,128 96,941
SHAREHOLDERS' FUNDS 169,228 97,041

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Tomolillo Ltd (Registered number: SC246378)

Balance Sheet - continued
30 June 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:





M F Mulholland - Director


Tomolillo Ltd (Registered number: SC246378)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Tomolillo Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Tomolillo Ltd (Registered number: SC246378)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2023 - 42 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 522,474 214,439 736,913
Additions - 14,284 14,284
At 30 June 2024 522,474 228,723 751,197
DEPRECIATION
At 1 July 2023 - 177,032 177,032
Charge for year 10,449 7,942 18,391
At 30 June 2024 10,449 184,974 195,423
NET BOOK VALUE
At 30 June 2024 512,025 43,749 555,774
At 30 June 2023 522,474 37,407 559,881

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 5,662 3,379

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 26,456 25,688
Trade creditors 18,160 14,904
Taxation and social security 92,344 78,711
Other creditors 48,637 137,093
185,597 256,396

Tomolillo Ltd (Registered number: SC246378)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 381,400 408,625

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 289,118 310,188

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 407,856 434,313

The loan is secured over the subjects in Laurieston.