3 false false false false false false false false false false true false false false false true true No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2024 - FRS102_2024 288,023 288,023 288,023 xbrli:pure xbrli:shares iso4217:GBP 03435962 2023-07-01 2024-06-30 03435962 2024-06-30 03435962 2023-06-30 03435962 2022-07-01 2023-06-30 03435962 2023-06-30 03435962 2022-06-30 03435962 core:LandBuildings core:LongLeaseholdAssets 2023-07-01 2024-06-30 03435962 core:FurnitureFittings 2023-07-01 2024-06-30 03435962 bus:Director1 2023-07-01 2024-06-30 03435962 core:LandBuildings 2023-06-30 03435962 core:FurnitureFittings 2023-06-30 03435962 core:LandBuildings 2024-06-30 03435962 core:FurnitureFittings 2024-06-30 03435962 core:LandBuildings 2023-07-01 2024-06-30 03435962 core:WithinOneYear 2024-06-30 03435962 core:WithinOneYear 2023-06-30 03435962 core:ShareCapital 2024-06-30 03435962 core:ShareCapital 2023-06-30 03435962 core:RetainedEarningsAccumulatedLosses 2024-06-30 03435962 core:RetainedEarningsAccumulatedLosses 2023-06-30 03435962 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-06-30 03435962 core:CostValuation core:Non-currentFinancialInstruments 2024-06-30 03435962 core:Non-currentFinancialInstruments 2024-06-30 03435962 core:LandBuildings 2023-06-30 03435962 core:FurnitureFittings 2023-06-30 03435962 bus:Director1 2023-06-30 03435962 bus:Director1 2024-06-30 03435962 bus:Director1 2022-06-30 03435962 bus:Director1 2023-06-30 03435962 bus:Director1 2022-07-01 2023-06-30 03435962 bus:SmallEntities 2023-07-01 2024-06-30 03435962 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 03435962 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 03435962 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03435962 bus:FullAccounts 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 03435962
TONI TEXTILES LTD
Filleted Unaudited Financial Statements
30 June 2024
TONI TEXTILES LTD
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
534,767
514,055
Investments
6
288,023
---------
---------
822,790
514,055
Current assets
Stocks
126,558
169,835
Debtors
7
2,222
3,422
Cash at bank and in hand
813,203
1,041,477
---------
------------
941,983
1,214,734
Creditors: amounts falling due within one year
8
144,899
216,684
---------
------------
Net current assets
797,084
998,050
------------
------------
Total assets less current liabilities
1,619,874
1,512,105
------------
------------
Capital and reserves
Called up share capital
2
2
Profit and loss account
1,619,872
1,512,103
------------
------------
Shareholders funds
1,619,874
1,512,105
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
TONI TEXTILES LTD
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 19 March 2025 , and are signed on behalf of the board by:
R T S Dari
Director
Company registration number: 03435962
TONI TEXTILES LTD
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 51 Goldhawk Road, London, W12 0ND.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
10% straight line
Fixtures and fittings
-
25% reducing balance
No depreciation is provided in respect of freehold investment property.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 July 2023
546,558
8,295
554,853
Additions
26,850
26,850
---------
-------
---------
At 30 June 2024
573,408
8,295
581,703
---------
-------
---------
Depreciation
At 1 July 2023
34,913
5,885
40,798
Charge for the year
5,535
603
6,138
---------
-------
---------
At 30 June 2024
40,448
6,488
46,936
---------
-------
---------
Carrying amount
At 30 June 2024
532,960
1,807
534,767
---------
-------
---------
At 30 June 2023
511,645
2,410
514,055
---------
-------
---------
6. Investments
Shares in participating interests
£
Cost
At 1 July 2023
Additions
288,023
---------
At 30 June 2024
288,023
---------
Impairment
At 1 July 2023 and 30 June 2024
---------
Carrying amount
At 30 June 2024
288,023
---------
At 30 June 2023
---------
7. Debtors
2024
2023
£
£
Other debtors
2,222
3,422
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
7,675
7,592
Trade creditors
19,483
34,512
Corporation tax
36,228
55,606
Social security and other taxes
19,329
10,159
Other creditors
62,184
108,815
---------
---------
144,899
216,684
---------
---------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
R T S Dari
( 101,815)
338,105
236,290
---------
---------
---------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
R T S Dari
( 153,655)
51,840
( 101,815)
---------
--------
---------
10. Related party transactions
The company was under the control of R T S Dari throughout the current and previous year. R T S Dari is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.