Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-31false22024-01-01falseManagement consultancy activities other than financial management2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13938903 2024-01-01 2024-12-31 13938903 2023-01-01 2023-12-31 13938903 2024-12-31 13938903 2023-12-31 13938903 c:Director1 2024-01-01 2024-12-31 13938903 d:ComputerEquipment 2024-01-01 2024-12-31 13938903 d:ComputerEquipment 2024-12-31 13938903 d:ComputerEquipment 2023-12-31 13938903 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13938903 d:CurrentFinancialInstruments 2024-12-31 13938903 d:CurrentFinancialInstruments 2023-12-31 13938903 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 13938903 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13938903 d:ShareCapital 2024-12-31 13938903 d:ShareCapital 2023-12-31 13938903 d:RetainedEarningsAccumulatedLosses 2024-12-31 13938903 d:RetainedEarningsAccumulatedLosses 2023-12-31 13938903 d:TaxLossesCarry-forwardsDeferredTax 2024-12-31 13938903 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 13938903 c:FRS102 2024-01-01 2024-12-31 13938903 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 13938903 c:FullAccounts 2024-01-01 2024-12-31 13938903 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13938903 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 13938903










TORO CAPITAL ADVISORS LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
TORO CAPITAL ADVISORS LTD
REGISTERED NUMBER: 13938903

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
588
1,373

  
588
1,373

Current assets
  

Debtors
 5 
18,053
14,412

Cash at bank and in hand
  
9,681
92,735

  
27,734
107,147

Creditors: amounts falling due within one year
 6 
(15,396)
(82,141)

Net current assets
  
 
 
12,338
 
 
25,006

  

Net assets
  
12,926
26,379


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
12,925
26,378

  
12,926
26,379


Page 1

 
TORO CAPITAL ADVISORS LTD
REGISTERED NUMBER: 13938903
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






J Daneu
Director

Date: 25 March 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
TORO CAPITAL ADVISORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Toro Capital Advisors Ltd, company number: 13938903 is a private company limited by shares. Its registered office address is 8-10 Hill Street, London, England, W1J 5NG.  
The company's principal activity is that of management consultancy activities.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each year end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Page 3

 
TORO CAPITAL ADVISORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment.

Page 4

 
TORO CAPITAL ADVISORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. 


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

 
3.1

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

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 profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Page 5

 
TORO CAPITAL ADVISORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


3.1
Financial instruments (continued)

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 6

 
TORO CAPITAL ADVISORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Computer equipment

£



Cost 


At 1 January 2024
2,354



At 31 December 2024

2,354



Depreciation


At 1 January 2024
981


Charge for the year
785



At 31 December 2024

1,766



Net book value



At 31 December 2024
588



At 31 December 2023
1,373

Page 7

 
TORO CAPITAL ADVISORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Other debtors
10,712
10,737

Prepayments
3,450
3,675

Deferred taxation
3,891
-

18,053
14,412



6.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
6,760
7,127

Corporation tax
-
5,585

Other taxation and social security
4,363
2,991

Other creditors
673
673

Accruals and deferred income
3,600
65,765

15,396
82,141


Included within other creditors is a loan from the director, amounting to £673 (2023: £673). 


7.
Deferred Taxation


2024

£


Charged to profit or loss
3,891

At end of year
3,891










The deferred tax asset is made up as follows:

2024
2023
£
£


Tax losses carried forward
3,891
-
Page 8

 
TORO CAPITAL ADVISORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2023
£
-
-
Page 9

 
TORO CAPITAL ADVISORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
.Deferred taxation (continued)


3,891
-


8.


Controlling party

The controlling party is J Daneu.

Page 10