Acorah Software Products - Accounts Production 16.1.300 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 05954516 C Robinson R Robinson R Robinson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05954516 2023-12-31 05954516 2024-12-31 05954516 2024-01-01 2024-12-31 05954516 frs-core:CurrentFinancialInstruments 2024-12-31 05954516 frs-core:Non-currentFinancialInstruments 2024-12-31 05954516 frs-core:BetweenOneFiveYears 2024-12-31 05954516 frs-core:ComputerEquipment 2024-12-31 05954516 frs-core:ComputerEquipment 2024-01-01 2024-12-31 05954516 frs-core:ComputerEquipment 2023-12-31 05954516 frs-core:FurnitureFittings 2024-12-31 05954516 frs-core:FurnitureFittings 2024-01-01 2024-12-31 05954516 frs-core:FurnitureFittings 2023-12-31 05954516 frs-core:MotorVehicles 2024-12-31 05954516 frs-core:MotorVehicles 2024-01-01 2024-12-31 05954516 frs-core:MotorVehicles 2023-12-31 05954516 frs-core:PlantMachinery 2024-12-31 05954516 frs-core:PlantMachinery 2024-01-01 2024-12-31 05954516 frs-core:PlantMachinery 2023-12-31 05954516 frs-core:WithinOneYear 2024-12-31 05954516 frs-core:ShareCapital 2024-12-31 05954516 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 05954516 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05954516 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 05954516 frs-bus:SmallEntities 2024-01-01 2024-12-31 05954516 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 05954516 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05954516 frs-bus:Director1 2024-01-01 2024-12-31 05954516 frs-bus:Director2 2024-01-01 2024-12-31 05954516 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 05954516 frs-countries:EnglandWales 2024-01-01 2024-12-31 05954516 2022-12-31 05954516 2023-12-31 05954516 2023-01-01 2023-12-31 05954516 frs-core:CurrentFinancialInstruments 2023-12-31 05954516 frs-core:Non-currentFinancialInstruments 2023-12-31 05954516 frs-core:BetweenOneFiveYears 2023-12-31 05954516 frs-core:WithinOneYear 2023-12-31 05954516 frs-core:ShareCapital 2023-12-31 05954516 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 05954516
Tofly Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05954516
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 60,793 73,015
60,793 73,015
CURRENT ASSETS
Stocks 5 21,720 17,300
Debtors 6 45,442 54,835
Cash at bank and in hand 50,603 38,413
117,765 110,548
Creditors: Amounts Falling Due Within One Year 7 (155,559 ) (152,220 )
NET CURRENT ASSETS (LIABILITIES) (37,794 ) (41,672 )
TOTAL ASSETS LESS CURRENT LIABILITIES 22,999 31,343
Creditors: Amounts Falling Due After More Than One Year 8 (13,055 ) (18,927 )
NET ASSETS 9,944 12,416
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 9,942 12,414
SHAREHOLDERS' FUNDS 9,944 12,416
Page 1
Page 2
For the year ending 31 December 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
C Robinson
Director
28 February 2025
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
Tofly Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05954516 . The registered office is 16 Gatwick Metro Centre, Balcombe Road, Horley, Surrey, RH6 9GA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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 10% Straight Line
Motor Vehicles 25% Straight Line
Fixtures & Fittings 15% Straight Line
Computer Equipment 33.33% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. 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.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 38 (2023: 38)
38 38
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 151,581 24,990 46,829 27,065 250,465
Additions 13,656 - 999 2,668 17,323
As at 31 December 2024 165,237 24,990 47,828 29,733 267,788
Depreciation
As at 1 January 2024 102,491 14,996 33,975 25,988 177,450
Provided during the period 16,270 4,998 7,174 1,103 29,545
As at 31 December 2024 118,761 19,994 41,149 27,091 206,995
Net Book Value
As at 31 December 2024 46,476 4,996 6,679 2,642 60,793
As at 1 January 2024 49,090 9,994 12,854 1,077 73,015
5. Stocks
2024 2023
£ £
Stock 21,720 17,300
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 44,987 49,950
Prepayments and accrued income 455 876
Other debtors - 4,009
45,442 54,835
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 11,429 7,063
Trade creditors 40,008 30,630
Bank loans and overdrafts 4,187 4,000
Corporation tax 5,657 7,965
Other taxes and social security 10,123 9,654
VAT 5,420 1,317
Accruals and deferred income 4,347 3,067
Directors' loan accounts 74,388 88,524
155,559 152,220
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 12,422 14,028
Bank loans 633 4,899
13,055 18,927
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 11,429 7,063
Later than one year and not later than five years 12,422 14,028
23,851 21,091
23,851 21,091
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 47,250 47,500
Later than one year and not later than five years 62,417 109,500
109,667 157,000
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