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REGISTERED NUMBER: 08678507 (England and Wales)















TOLL GAVEL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






TOLL GAVEL LIMITED (REGISTERED NUMBER: 08678507)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


TOLL GAVEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mrs A M Fletcher
M W D Fletcher
D H Fletcher





REGISTERED OFFICE: 1st Floor
43-44 Saturday Market
Beverley
E Yorkshire
HU17 8AA





REGISTERED NUMBER: 08678507 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF

TOLL GAVEL LIMITED (REGISTERED NUMBER: 08678507)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 - 42
Investment property 5 2,050,000 2,050,000
2,050,000 2,050,042

CURRENT ASSETS
Debtors 6 32,989 37,749
Cash at bank 20,583 18
53,572 37,767
CREDITORS
Amounts falling due within one year 7 41,294 16,532
NET CURRENT ASSETS 12,278 21,235
TOTAL ASSETS LESS CURRENT LIABILITIES 2,062,278 2,071,277

PROVISIONS FOR LIABILITIES 136,149 136,160
NET ASSETS 1,926,129 1,935,117

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 9 1,925,129 1,934,117
SHAREHOLDERS' FUNDS 1,926,129 1,935,117

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 February 2025 and were signed on its behalf by:




D H Fletcher - Director


TOLL GAVEL LIMITED (REGISTERED NUMBER: 08678507)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Toll Gavel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Revenue
Revenue represents amounts receivable from the letting of commercial property net of VAT.

Property, plant and equipment
Property, plant and equipment are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery 20% - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


TOLL GAVEL LIMITED (REGISTERED NUMBER: 08678507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 October 2023
and 30 September 2024 10,476
DEPRECIATION
At 1 October 2023 10,434
Charge for year 42
At 30 September 2024 10,476
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 42

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 2,050,000
NET BOOK VALUE
At 30 September 2024 2,050,000
At 30 September 2023 2,050,000

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2024 2,050,000

If freehold investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,540,000 2,540,000

TOLL GAVEL LIMITED (REGISTERED NUMBER: 08678507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. INVESTMENT PROPERTY - continued

The company's investment properties were valued by the directors as at 30 September 2024.

In accordance with RICS valuation standards, the valuation was prepared having regard to market based evidence for similar properties sold in the local area, subject to the commercial leases. The valuation principally focussed on a continuation of the existing use, having regard to the current tenancy position and a rent yield approach.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 245 -
Other debtors - 3,440
Prepayments and accrued income 32,744 34,309
32,989 37,749

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 17,188 55
Tax 10,787 4,712
Social security and other taxes 2,154 2,413
VAT 7,248 5,538
Accruals and deferred income 3,917 3,814
41,294 16,532

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
750 Ordinary £1 750 750
250 A Ordinary £1 250 250
1,000 1,000

9. RESERVES

Included within retained earnings are non-distributable reserves totalling £975,785 (2023 - £975,785) in respect of the gain on revaluation of the investment properties when these were held by historic group entities, net of the deferred tax provision.