Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2023-05-01No description of principal activity11truefalse 06571310 2023-05-01 2024-04-30 06571310 2022-05-01 2023-04-30 06571310 2024-04-30 06571310 2023-04-30 06571310 2022-05-01 06571310 c:Director1 2023-05-01 2024-04-30 06571310 d:Buildings 2023-05-01 2024-04-30 06571310 d:Buildings 2024-04-30 06571310 d:Buildings 2023-04-30 06571310 d:Buildings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06571310 d:PlantMachinery 2023-05-01 2024-04-30 06571310 d:PlantMachinery 2024-04-30 06571310 d:PlantMachinery 2023-04-30 06571310 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06571310 d:MotorVehicles 2023-05-01 2024-04-30 06571310 d:MotorVehicles 2024-04-30 06571310 d:MotorVehicles 2023-04-30 06571310 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06571310 d:OfficeEquipment 2023-05-01 2024-04-30 06571310 d:OfficeEquipment 2024-04-30 06571310 d:OfficeEquipment 2023-04-30 06571310 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06571310 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06571310 d:Goodwill 2024-04-30 06571310 d:Goodwill 2023-04-30 06571310 d:CurrentFinancialInstruments 2024-04-30 06571310 d:CurrentFinancialInstruments 2023-04-30 06571310 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 06571310 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 06571310 d:ShareCapital 2024-04-30 06571310 d:ShareCapital 2023-04-30 06571310 d:RetainedEarningsAccumulatedLosses 2024-04-30 06571310 d:RetainedEarningsAccumulatedLosses 2023-04-30 06571310 c:FRS102 2023-05-01 2024-04-30 06571310 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 06571310 c:FullAccounts 2023-05-01 2024-04-30 06571310 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06571310 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 06571310 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 06571310 6 2023-05-01 2024-04-30 06571310 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 06571310









TOAST LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
TOAST LTD
REGISTERED NUMBER: 06571310

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
52,741
72,576

Investments
 6 
750
750

  
53,491
73,326

Current assets
  

Debtors: amounts falling due within one year
 7 
1,186,901
374,006

Cash at bank and in hand
 8 
230,987
911,693

  
1,417,888
1,285,699

Creditors: amounts falling due within one year
 9 
(290,481)
(74,088)

Net current assets
  
 
 
1,127,407
 
 
1,211,611

Total assets less current liabilities
  
1,180,898
1,284,937

Provisions for liabilities
  

Deferred tax
 10 
(9,962)
(6,108)

  
 
 
(9,962)
 
 
(6,108)

Net assets
  
1,170,936
1,278,829


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
1,170,935
1,278,828

  
1,170,936
1,278,829


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
TOAST LTD
REGISTERED NUMBER: 06571310
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 January 2025.




Mr C Boorman
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
TOAST LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Toast Ltd is a private company limited by share capital, incorporated in England and Wales, registration number 06571310. The address of the registered office is 48 George Street, Floor 2, London, W1U 7DY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
TOAST LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Property improvements
-
2%
Plant and machinery
-
20%
Motor vehicles
-
15%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in associated companies are measured at cost less accumulated impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
TOAST LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
TOAST LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 6

 
TOAST LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 May 2023
679,250



At 30 April 2024

679,250



Amortisation


At 1 May 2023
679,250



At 30 April 2024

679,250



Net book value



At 30 April 2024
-



At 30 April 2023
-



Page 7

 
TOAST LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





Property improvements
Plant and machinery
Motor vehicles
Equipment
Total

£
£
£
£
£



Cost or valuation


At 1 May 2023
7,481
17,187
85,936
3,318
113,922


Additions
5,414
-
8,410
-
13,824


Disposals
-
-
(39,668)
-
(39,668)



At 30 April 2024

12,895
17,187
54,678
3,318
88,078



Depreciation


At 1 May 2023
-
2,963
35,590
2,793
41,346


Charge for the year on owned assets
-
3,437
13,830
525
17,792


Disposals
-
-
(23,801)
-
(23,801)



At 30 April 2024

-
6,400
25,619
3,318
35,337



Net book value



At 30 April 2024
12,895
10,787
29,059
-
52,741



At 30 April 2023
7,481
14,224
50,346
525
72,576

Page 8

 
TOAST LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Fixed asset investments





Investments in associates

£



Cost or valuation


At 1 May 2023
750



At 30 April 2024
750




The company owns 25% of the issued ordinary share capital in one limited company and 50% of the issued ordinary share capital of a further limited company, both entities being incorporated in England & Wales.

Page 9

 
TOAST LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Debtors

2024
2023
£
£


Trade debtors
242,678
13,000

Other debtors
775,681
312,808

Prepayments and accrued income
8,000
-

Tax recoverable
160,542
48,198

1,186,901
374,006



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
230,987
911,693

230,987
911,693



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
240
14,435

Corporation tax
229,168
52,382

Other taxation and social security
49,823
1,484

Other creditors
-
37

Accruals and deferred income
11,250
5,750

290,481
74,088



10.


Deferred taxation

Page 10

 
TOAST LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
 
10.Deferred taxation (continued)




2024
2023


£

£






At beginning of year
(6,108)
(5,082)


Charged to profit or loss
(3,854)
(1,026)



At end of year
(9,962)
(6,108)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(9,962)
(6,108)

(9,962)
(6,108)


11.


Pension commitments

The company contributes to pension schemes on behalf of its director. The assets of the schemes are held separately from those of the company in independently administered funds. The pension charge for the year was £19,388 (2023: £19,388).  There were no outstanding amounts at the year end.
The annual commitment in respect of these schemes is £19,388.


12.


Related party transactions

During the year ordinary dividends totalling £300,000 (2023: £300,000) were paid to the director in his capacity as shareholder of the company.
Included in other debtors at the balance sheet date is an amount of £775,681 (2023: £312,808) due from the director. This amount is in respect of expenses borne by the company on behalf of the director net of dividends payable to the director. This amount is unsecured, interest free and repayable on demand.

 
Page 11