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Registered number: 02624675
TOTO FOOTWEAR LIMITED
Financial Statements
For The Year Ended 30 June 2024
MUFTI & CO.
FINANCIAL ACCOUNTANTS
14 NATAL ROAD
ILFORD
ESSEX
IG1 2HA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02624675
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 388 518
388 518
CURRENT ASSETS
Stocks 5 5,700 5,956
Debtors 6 158 150
Cash at bank and in hand 1,623 3,378
7,481 9,484
Creditors: Amounts Falling Due Within One Year 7 (45,160 ) (45,953 )
NET CURRENT ASSETS (LIABILITIES) (37,679 ) (36,469 )
TOTAL ASSETS LESS CURRENT LIABILITIES (37,291 ) (35,951 )
Creditors: Amounts Falling Due After More Than One Year 8 (4,630 ) (4,630 )
NET LIABILITIES (41,921 ) (40,581 )
CAPITAL AND RESERVES
Called up share capital 9 3 3
Profit and Loss Account (41,924 ) (40,584 )
SHAREHOLDERS' FUNDS (41,921) (40,581)
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 MUHAMMAD SHAKIL YUSAF
Director
10/12/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
TOTO FOOTWEAR LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 02624675 . The registered office is 88b THE PAVILION, ELEANOR CROSS ROAD, WALTHAM CROSS, HERTFORDSHIRE, EN8 7BZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Sales, marketing and distribution 1 1
1 1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 July 2023 16,554
As at 30 June 2024 16,554
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 July 2023 16,036
Provided during the period 130
As at 30 June 2024 16,166
Net Book Value
As at 30 June 2024 388
As at 1 July 2023 518
5. Stocks
2024 2023
£ £
Materials 5,700 5,956
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 158 150
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 589 1,175
Bank loans and overdrafts 1,861 -
Accruals and deferred income 1,525 4,500
Directors' loan accounts 41,185 40,278
45,160 45,953
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors - Loan Mr. M. J. Yusaf 4,630 4,630
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3 3
Page 4
Page 5
10. Controlling Party
The company's controlling party is Mr. Muhammad Shakil Yusaf by virtue of his ownership of 33% of the issued share capital in the company.
Page 5