Toby Strong Limited 08129260 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is Cinematographer and photographer Digita Accounts Production Advanced 6.30.9574.0 true true 08129260 2023-07-01 2024-06-30 08129260 2024-06-30 08129260 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2024-06-30 08129260 core:CurrentFinancialInstruments 2024-06-30 08129260 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 08129260 core:Non-currentFinancialInstruments 2024-06-30 08129260 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 08129260 core:FurnitureFittingsToolsEquipment 2024-06-30 08129260 bus:SmallEntities 2023-07-01 2024-06-30 08129260 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 08129260 bus:FilletedAccounts 2023-07-01 2024-06-30 08129260 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 08129260 bus:RegisteredOffice 2023-07-01 2024-06-30 08129260 bus:Director1 2023-07-01 2024-06-30 08129260 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-07-01 2024-06-30 08129260 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08129260 core:RevaluationReserve core:LandBuildings 2023-07-01 2024-06-30 08129260 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 08129260 core:LandBuildings 2023-07-01 2024-06-30 08129260 core:PlantMachinery 2023-07-01 2024-06-30 08129260 countries:UnitedKingdom 2023-07-01 2024-06-30 08129260 2023-06-30 08129260 core:FurnitureFittingsToolsEquipment 2023-06-30 08129260 2022-07-01 2023-06-30 08129260 2023-06-30 08129260 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-06-30 08129260 core:CurrentFinancialInstruments 2023-06-30 08129260 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 08129260 core:Non-currentFinancialInstruments 2023-06-30 08129260 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 08129260 core:FurnitureFittingsToolsEquipment 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08129260

Toby Strong Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Toby Strong Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Toby Strong Limited

Company Information

Director

Mr Tobias Andrew Strong

Registered office

Redwoods
2 Clyst Works
Clyst Road, Topsham
Exeter
Devon
EX3 0DB

Accountants

Redwoods
Chartered Certified Accountants
2 Clyst Works
Clyst Road
Topsham
Exeter
Devon
EX3 0DB

 

Toby Strong Limited

(Registration number: 08129260)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

34,219

41,442

Investment property

5

360,000

290,636

 

394,219

332,078

Current assets

 

Stocks

1,472

-

Debtors

6

785

38,995

Cash at bank and in hand

 

73,970

58,106

 

76,227

97,101

Creditors: Amounts falling due within one year

7

(53,176)

(71,101)

Net current assets

 

23,051

26,000

Total assets less current liabilities

 

417,270

358,078

Creditors: Amounts falling due after more than one year

7

(171,463)

(181,729)

Provisions for liabilities

(25,896)

(10,361)

Net assets

 

219,911

165,988

Capital and reserves

 

Called up share capital

8

100

100

Revaluation reserve

52,023

-

Retained earnings

167,788

165,888

Shareholders' funds

 

219,911

165,988

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.

 

Toby Strong Limited

(Registration number: 08129260)
Balance Sheet as at 30 June 2024

Approved and authorised by the director on 30 January 2025
 

.........................................
Mr Tobias Andrew Strong
Director

 

Toby Strong Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Redwoods
2 Clyst Works
Clyst Road, Topsham
Exeter
Devon
EX3 0DB

These financial statements were authorised for issue by the director on 30 January 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.

The accounts are presented in £ sterling and are rounded to £1.

 

Toby Strong Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax 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 income 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Plant and machinery

20% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

 

Toby Strong Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Toby Strong Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Toby Strong Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

69,569

69,569

Additions

1,332

1,332

At 30 June 2024

70,901

70,901

Depreciation

At 1 July 2023

28,127

28,127

Charge for the year

8,555

8,555

At 30 June 2024

36,682

36,682

Carrying amount

At 30 June 2024

34,219

34,219

At 30 June 2023

41,442

41,442

5

Investment properties

2024
£

At 1 July

290,636

Fair value adjustments

69,364

At 30 June

360,000

The company holds one freehold investment property, the original purchase cost being £290,636. The director has valued the property at an amount equal to its market value of £360,000 as at 30th June 2024.

There has been no valuation of investment property by an independent valuer.

 

Toby Strong Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

debtors

Current

2024
£

2023
£

Trade debtors

-

38,060

Prepayments

785

935

 

785

38,995

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

17,721

17,722

Taxation and social security

 

28,389

45,945

Accruals and deferred income

 

1,840

4,739

Other creditors

 

5,226

2,695

 

53,176

71,101

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

171,463

181,729

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

52,023

52,023

 

Toby Strong Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

171,463

181,729

Current loans and borrowings

2024
£

2023
£

Bank borrowings

17,721

17,722