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Registered number: 09350461
Toheda Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Search Accountancy Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 09350461
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 199 299
Investment Properties 5 977,500 747,765
Investments 6 117,115 117,115
1,094,814 865,179
CURRENT ASSETS
Debtors 7 517,176 564,077
Cash at bank and in hand 13,553 12,074
530,729 576,151
Creditors: Amounts Falling Due Within One Year 8 (767,794 ) (780,700 )
NET CURRENT ASSETS (LIABILITIES) (237,065 ) (204,549 )
TOTAL ASSETS LESS CURRENT LIABILITIES 857,749 660,630
Creditors: Amounts Falling Due After More Than One Year 9 (820,058 ) (870,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 - (57 )
NET ASSETS/(LIABILITIES) 37,691 (209,427 )
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 37,591 (209,527 )
SHAREHOLDERS' FUNDS 37,691 (209,427)
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J Dent
Director
15/11/2024
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Toheda Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09350461 . The registered office is Chatsworth House Norwood Green Hill, Norwood Green, Halifax, West Yorkshire, HX3 8QX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on cost
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery
£
Cost or Valuation
As at 1 April 2023 2,582
As at 31 March 2024 2,582
Depreciation
As at 1 April 2023 2,283
Provided during the period 100
As at 31 March 2024 2,383
Net Book Value
As at 31 March 2024 199
As at 1 April 2023 299
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Cost or valuation as at 31 March 2024 represented by:
Plant & Machinery
£
At cost 2,582
2,582
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 747,765
Revaluations 229,735
As at 31 March 2024 977,500
Investment property was valued on an open market basis on 19 March 2024 by Coubrough Holmes, 94 Town Gate, Wyke, BD12 9JB.
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated
depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at
the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent
accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
comprehensive income and accumulated in equity, except to the extent it reverses a revaluation
decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount
of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any
previously recognised revaluation increase accumulated in equity in respect of that asset. Where a
revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of
that asset, the excess shall be recognised in profit or loss.
6. Investments
Joint Ventures Listed Total
£ £ £
Cost
As at 1 April 2023 428,643 117,115 545,758
As at 31 March 2024 428,643 117,115 545,758
Provision
As at 1 April 2023 428,643 - 428,643
As at 31 March 2024 428,643 - 428,643
...CONTINUED
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Net Book Value
As at 31 March 2024 - 117,115 117,115
As at 1 April 2023 - 117,115 117,115
IMPAIRMENT OF FIXED ASSETS
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
INVESTMENTS
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investment property is valued at fair value by the directors. Gains are recognised in the income statement. Deferred tax is provided on those gains at the rate expected to apply when the property sold.
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 2,334
Other debtors 517,176 561,743
517,176 564,077
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 756,699 772,275
Taxation and social security 11,095 8,425
767,794 780,700
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 820,058 870,000
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences - 57
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11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 7