Registered number
10297082
Torwoodlee Investments Limited
Unaudited Filleted Accounts
31 July 2024
Torwoodlee Investments Limited
Registered number: 10297082
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 22,174 -
Investments 4 902,824 1,003,135
924,998 1,003,135
Current assets
Debtors 5 130,324 26,582
Cash at bank and in hand 36,480 138,912
166,804 165,494
Creditors: amounts falling due within one year 6 (406,719) (447,899)
Net current liabilities (239,915) (282,405)
Total assets less current liabilities 685,083 720,730
Creditors: amounts falling due after more than one year 7 (72,392) (132,020)
Net assets 612,691 588,710
Capital and reserves
Called up share capital 100,100 100,100
Profit and loss account 512,591 488,610
Shareholders' funds 612,691 588,710
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Michael Dawson
Director
Approved by the board on 24 February 2025
Torwoodlee Investments Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Motor vehicles over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
Additions 565 29,000 29,565
At 31 July 2024 565 29,000 29,565
Depreciation
Charge for the year 141 7,250 7,391
At 31 July 2024 141 7,250 7,391
Net book value
At 31 July 2024 424 21,750 22,174
4 Investments
Commercial
property Other
investments investments Total
£ £ £
Fair value
At 1 August 2023 650,000 353,135 1,003,135
Additions - 261,783 261,783
Revaluation - 23,768 23,768
Disposals (165,349) (220,513) (385,862)
At 31 July 2024 484,651 418,173 902,824
Historical cost
At 1 August 2023 650,000 327,362
At 31 July 2024 484,651 377,800
Other investments includes listed and unlisted investments. The listed investments are included in these accounts at their market (fair) value on 31st July 2024. The fair values of the investment properties and the unlisted investments are assessed at the end of every accounting period. The director considers that these values have not changed significantly since purchase.
5 Debtors 2024 2023
£ £
Taxation and social security costs 7,344 -
Deferred tax asset 8,005 26,562
Other debtors 114,975 20
130,324 26,582
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs - 9,756
Other creditors 406,719 438,143
406,719 447,899
7 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 72,392 132,020
8 Related party transactions
The company owes Michael Dawson, director and shareholder, and his wife £301,990 (2023 - £424,444) at the year-end. The loans are subject to an annual 8% compound interest rate and are repayable on demand. They are included in other creditors in these accounts.
9 Controlling party
The company is controlled by Michael Dawson, director and shareholder.
10 Other information
Torwoodlee Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
72 Burford Lane
Lymm
Cheshire
WA13 0SJ
Torwoodlee Investments Limited 10297082 false 2023-08-01 2024-07-31 2024-07-31 VT Final Accounts July 2024 Michael Dawson No description of principal activity 10297082 2022-08-01 2023-07-31 10297082 core:WithinOneYear 2023-07-31 10297082 core:AfterOneYear 2023-07-31 10297082 core:ShareCapital 2023-07-31 10297082 core:RetainedEarningsAccumulatedLosses 2023-07-31 10297082 2023-08-01 2024-07-31 10297082 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10297082 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 10297082 bus:Director40 2023-08-01 2024-07-31 10297082 1 2023-08-01 2024-07-31 10297082 2 2023-08-01 2024-07-31 10297082 core:PlantMachinery 2023-08-01 2024-07-31 10297082 core:Vehicles 2023-08-01 2024-07-31 10297082 countries:England 2023-08-01 2024-07-31 10297082 bus:FRS102 2023-08-01 2024-07-31 10297082 bus:FilletedAccounts 2023-08-01 2024-07-31 10297082 2024-07-31 10297082 core:WithinOneYear 2024-07-31 10297082 core:AfterOneYear 2024-07-31 10297082 core:ShareCapital 2024-07-31 10297082 core:RetainedEarningsAccumulatedLosses 2024-07-31 10297082 core:PlantMachinery 2024-07-31 10297082 core:Vehicles 2024-07-31 10297082 core:AdditionsToInvestments 2024-07-31 10297082 core:RevaluationsIncreaseDecreaseInInvestments 2024-07-31 10297082 core:DisposalsRepaymentsInvestments 2024-07-31 10297082 2023-07-31 iso4217:GBP xbrli:pure