TOC Holdings Limited 06647054 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is rentals. Digita Accounts Production Advanced 6.30.9574.0 true true 06647054 2023-06-01 2024-05-31 06647054 2024-05-31 06647054 core:CurrentFinancialInstruments 2024-05-31 06647054 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 06647054 core:Non-currentFinancialInstruments 2024-05-31 06647054 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 06647054 core:FurnitureFittings 2024-05-31 06647054 core:LandBuildings core:OwnedOrFreeholdAssets 2024-05-31 06647054 core:MotorVehicles 2024-05-31 06647054 core:OfficeEquipment 2024-05-31 06647054 bus:SmallEntities 2023-06-01 2024-05-31 06647054 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 06647054 bus:FilletedAccounts 2023-06-01 2024-05-31 06647054 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 06647054 bus:RegisteredOffice 2023-06-01 2024-05-31 06647054 bus:CompanySecretaryDirector1 2023-06-01 2024-05-31 06647054 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 06647054 core:FurnitureFittings 2023-06-01 2024-05-31 06647054 core:LandBuildings 2023-06-01 2024-05-31 06647054 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 06647054 core:MotorVehicles 2023-06-01 2024-05-31 06647054 core:OfficeEquipment 2023-06-01 2024-05-31 06647054 countries:EnglandWales 2023-06-01 2024-05-31 06647054 2023-05-31 06647054 core:FurnitureFittings 2023-05-31 06647054 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 06647054 core:MotorVehicles 2023-05-31 06647054 core:OfficeEquipment 2023-05-31 06647054 2022-06-01 2023-05-31 06647054 2023-05-31 06647054 core:CurrentFinancialInstruments 2023-05-31 06647054 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 06647054 core:Non-currentFinancialInstruments 2023-05-31 06647054 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 06647054 core:FurnitureFittings 2023-05-31 06647054 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 06647054 core:MotorVehicles 2023-05-31 06647054 core:OfficeEquipment 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 06647054

TOC Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

TOC Holdings Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

TOC Holdings Limited

Company Information

Director

CJ French

Company secretary

CJ French

Registered office

27 Bankwood Road
Rollestone
Sheffield
South Yorkshire
S14 1LT

 

TOC Holdings Limited

(Registration number: 06647054)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

721,719

752,006

Investment property

5

2,547,485

2,547,485

 

3,269,204

3,299,491

Current assets

 

Debtors

6

19,052

23,551

Investments

7

2

2

Cash at bank and in hand

 

198,225

228,316

 

217,279

251,869

Creditors: Amounts falling due within one year

8

(636,826)

(651,657)

Net current liabilities

 

(419,547)

(399,788)

Total assets less current liabilities

 

2,849,657

2,899,703

Creditors: Amounts falling due after more than one year

8

(23,740)

(28,153)

Provisions for liabilities

(11,199)

(12,398)

Net assets

 

2,814,718

2,859,152

Capital and reserves

 

Called up share capital

2

2

Retained earnings

2,814,716

2,859,150

Shareholders' funds

 

2,814,718

2,859,152

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

TOC Holdings Limited

(Registration number: 06647054)
Balance Sheet as at 31 May 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 December 2024
 

.........................................
CJ French
Company secretary and director

 

TOC Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
27 Bankwood Road
Rollestone
Sheffield
South Yorkshire
S14 1LT

These financial statements were authorised for issue by the director on 12 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

TOC Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

2% on straight line

Motor vehicles

25% on reducing balance

Fixtures and fittings

10% on straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

TOC Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

TOC Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 June 2023

793,148

193,920

568

18,758

At 31 May 2024

793,148

193,920

568

18,758

Depreciation

At 1 June 2023

109,565

133,550

69

11,204

Charge for the year

9,831

18,511

56

1,889

At 31 May 2024

119,396

152,061

125

13,093

Carrying amount

At 31 May 2024

673,752

41,859

443

5,665

At 31 May 2023

683,583

60,370

499

7,554

Total
£

Cost or valuation

At 1 June 2023

1,006,394

At 31 May 2024

1,006,394

Depreciation

At 1 June 2023

254,388

Charge for the year

30,287

At 31 May 2024

284,675

Carrying amount

At 31 May 2024

721,719

At 31 May 2023

752,006

Included within the net book value of land and buildings above is £673,752 (2023 - £683,583) in respect of freehold land and buildings.
 

 

TOC Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Investment properties

2024
£

At 1 June

2,547,485

At 31 May

2,547,485

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

6,824

6,824

Amounts owed by related parties

5,708

5,708

Prepayments

 

-

3,409

Other debtors

 

6,520

7,610

   

19,052

23,551

7

Current asset investments

2024
£

2023
£

Shares in group undertakings

2

2

 

TOC Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

5,199

5,199

Trade creditors

 

2,792

917

Taxation and social security

 

3,469

3,044

Accruals and deferred income

 

1,910

1,770

Other creditors

 

623,456

640,727

 

636,826

651,657

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

23,740

28,153

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

23,740

28,153

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,199

5,199