Registered number: OC431651
TOBTOS LLP
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
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TOBTOS LLP
INFORMATION
Designated Members
A A ADESIGBIN (appointed 4 May 2020)
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F O ADESIGBIN (appointed 4 May 2020)
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LLP registered number
OC431651
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Registered office
6 MEDCALF ROAD, ENFIELD, MIDDLESEX, EN3 6HL
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Accountants
AdeKay & Co limited, 6 Medcalf Road, Enfield, EN3 6HL
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Bankers
Barclays Bank UK PLC, Chingford Mount Road, South Chingford, Chingford, E4 8JL
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TOBTOS LLP
CONTENTS
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Statement of comprehensive income
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Reconciliation of members' interests
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Notes to the financial statements
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TOBTOS LLP
MEMBERS' REPORT
FOR THE YEAR ENDED 31 MAY 2024
The members present their annual report together with the financial statements of TOBTOS LLP (the "LLP") for the year ended 31 May 2024.
Principal activities
The LLP was incorporated on 4 May 2020 and commenced trading on that date.
The principal object of the LLP is property investment and management.
Designated Members
A A ADESIGBIN and F O ADESIGBIN were designated members of the LLP throughout the period.
Members' capital and interests
Each member's subscription to the capital of the LLP is determined by their share of the profit and is repayable following retirement from the LLP.
Details of changes in members' capital in the year ended 31 May 2024 are set out in the reconciliation of members' interests.
This report was approved by the members on 6 February 2025 and signed on their behalf by:
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TOBTOS LLP
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2024
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(Loss)/profit for the year before members' remuneration and profit shares available for discretionary division among members
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Other comprehensive income for the year
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Total comprehensive income for the year
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The notes on pages 6 to 9 form part of these financial statements.
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TOBTOS LLP
REGISTERED NUMBER: OC431651
BALANCE SHEET
AS AT 31 MAY 2024
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Debtors: amounts falling due within one year
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Creditors: Amounts Falling Due Within One Year
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Total assets less current liabilities
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Loans and other debts due to members within one year
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Members' capital classified as equity
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Other reserves classified as equity
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The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.
The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.
The financial statements were approved and authorised for issue by the members and were signed on their behalf on 6 February 2025.
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TOBTOS LLP
REGISTERED NUMBER: OC431651
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024
The notes on pages 6 to 9 form part of these financial statements.
TOBTOS LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.
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TOBTOS LLP
RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MAY 2024
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EQUITY
Members' other interests
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Members' capital (classified as equity)
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Profit for the year available for discretionary division among members
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Members' interests after profit for the year
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Other division of profits
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Loss for the year available for discretionary division among members
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Members' interests after profit for the year
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There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.
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TOBTOS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
TOBTOS LLP (OC 431651) is a Limited Liability Partnership incorporated in England and Wales on 4th May 2020.
The registered office address is 6, Medcalf Road , Enfield , EN3 6HL.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP 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 LLP 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.
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TOBTOS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
2.Accounting policies (continued)
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Division and distribution of profits
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A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.
An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.
The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in the statement of comprehensive income.
Profits of the LLP which are not yet divided among the members are shown under 'Other reserves' on the balance sheet, pending a discretionary decision to divide the profits.
In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.
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.
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Cash and cash equivalents
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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.
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.
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TOBTOS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
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An analysis of turnover by class of business is as follows:
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Analysis of turnover by country of destination:
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The entity has no employees.
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Cash and cash equivalents
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TOBTOS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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