Tolfree Properties (SW) Limited 01567323 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is property and Investment holdings. Digita Accounts Production Advanced 6.30.9574.0 true true 01567323 2023-07-01 2024-06-30 01567323 2024-06-30 01567323 core:RetainedEarningsAccumulatedLosses 2024-06-30 01567323 core:RevaluationReserve 2024-06-30 01567323 core:ShareCapital 2024-06-30 01567323 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-06-30 01567323 core:CurrentFinancialInstruments 2024-06-30 01567323 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 01567323 bus:SmallEntities 2023-07-01 2024-06-30 01567323 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 01567323 bus:FilletedAccounts 2023-07-01 2024-06-30 01567323 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 01567323 bus:RegisteredOffice 2023-07-01 2024-06-30 01567323 bus:CompanySecretary1 2023-07-01 2024-06-30 01567323 bus:Director2 2023-07-01 2024-06-30 01567323 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 01567323 core:FurnitureFittings 2023-07-01 2024-06-30 01567323 countries:EnglandWales 2023-07-01 2024-06-30 01567323 2023-06-30 01567323 2022-07-01 2023-06-30 01567323 2023-06-30 01567323 core:RetainedEarningsAccumulatedLosses 2023-06-30 01567323 core:RevaluationReserve 2023-06-30 01567323 core:ShareCapital 2023-06-30 01567323 core:CurrentFinancialInstruments 2023-06-30 01567323 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 01567323

Tolfree Properties (SW) Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Tolfree Properties (SW) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Tolfree Properties (SW) Limited

Company Information

Director

J A Tolfree

Company secretary

Burton Sweet Company Secretarial Limited

Registered office

Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisers
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

Tolfree Properties (SW) Limited

(Registration number: 01567323)
Balance Sheet
30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

800,000

800,000

Other financial assets

5

25,195

21,324

 

825,195

821,324

Current assets

 

Debtors

6

374,250

287,909

Cash at bank and in hand

 

10,085

82,256

 

384,335

370,165

Creditors: Amounts falling due within one year

7

(5,924)

(7,725)

Net current assets

 

378,411

362,440

Net assets

 

1,203,606

1,183,764

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

130,625

130,625

Retained earnings

1,072,881

1,053,039

Shareholders' funds

 

1,203,606

1,183,764

 

Tolfree Properties (SW) Limited

(Registration number: 01567323)
Balance Sheet
30 June 2024

For the financial 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.

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.

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 3 March 2025
 

.........................................
J A Tolfree
Director

 

Tolfree Properties (SW) Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 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:
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

These financial statements were authorised for issue by the director on 3 March 2025.

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 rental income net of VAT and income from investments.

Tax

The tax expense for the period comprises current tax and 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.

The current corporation 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.

 

Tolfree Properties (SW) Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 2024

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

Equipment

25% per annum reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director.

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.

Trade debtors

Trade debtors are amounts due for unpaid rent from tennants.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Investment properties

2024
£

At 1 July

800,000

At 30 June

800,000

 

Tolfree Properties (SW) Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 2024

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 July 2023

21,324

21,324

Revaluations

3,871

3,871

At 30 June 2024

25,195

25,195

Impairment

Carrying amount

At 30 June 2024

25,195

25,195

6

Debtors

2024
£

2023
£

Trade debtors

19,000

9,000

Other debtors

355,250

278,909

374,250

287,909

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

77

1,903

Taxation and social security

4,347

4,442

Accruals and deferred income

1,500

1,380

5,924

7,725