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Company No: 12929261 (England and Wales)

TOMAT PROPERTY DEVELOPMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

TOMAT PROPERTY DEVELOPMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

TOMAT PROPERTY DEVELOPMENTS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 October 2024
TOMAT PROPERTY DEVELOPMENTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 128,720 96,725
Investment property 4 503,955 0
Investments 5 102 2
632,777 96,727
Current assets
Stocks 1,365,806 1,326,538
Debtors 6 1,195,039 519,937
Cash at bank and in hand 5,740 3,377
2,566,585 1,849,852
Creditors: amounts falling due within one year 7 ( 3,131,893) ( 1,807,399)
Net current (liabilities)/assets (565,308) 42,453
Total assets less current liabilities 67,469 139,180
Provision for liabilities 3,486 ( 14,268)
Net assets 70,955 124,912
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 70,855 124,812
Total shareholders' funds 70,955 124,912

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Tomat Property Developments Limited (registered number: 12929261) were approved and authorised for issue by the Board of Directors on 31 March 2025. They were signed on its behalf by:

J M Wilson
Director
TOMAT PROPERTY DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
TOMAT PROPERTY DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Tomat Property Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 8 Dodington Spring, Codrington, Chipping Sodbury, BS37 6RX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 5 years straight line
Vehicles 5 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 November 2023 71,810 44,876 8,585 125,271
Additions 0 149,140 3,485 152,625
Disposals ( 5,000) ( 103,358) 0 ( 108,358)
At 31 October 2024 66,810 90,658 12,070 169,538
Accumulated depreciation
At 01 November 2023 18,910 7,479 2,157 28,546
Charge for the financial year 14,112 13,984 2,722 30,818
Disposals ( 2,000) ( 16,546) 0 ( 18,546)
At 31 October 2024 31,022 4,917 4,879 40,818
Net book value
At 31 October 2024 35,788 85,741 7,191 128,720
At 31 October 2023 52,900 37,397 6,428 96,725

4. Investment property

Investment property
£
Valuation
As at 01 November 2023 0
Additions 503,955
As at 31 October 2024 503,955

5. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 November 2023 0
Additions 100
At 31 October 2024 100
Carrying value at 31 October 2024 100
Carrying value at 31 October 2023 0

Investments in joint ventures Total
£ £
Cost or valuation before impairment
At 01 November 2023 2 2
At 31 October 2024 2 2
Carrying value at 31 October 2024 2 2
Carrying value at 31 October 2023 2 2

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.10.2024
Ownership
31.10.2023
Held
Northpark Bristol Ltd Unit 8 Dodington Spring, Chipping Sodbury, England, BS37 6RX Other letting and operating of own or leased real estate Ordinary 25.00% 25.00% Direct
Liberty Lane Developments Ltd Unit 8 Dodington Spring, Chipping Sodbury, England, BS37 6RX Development of building projects Ordinary 50.00% 50.00% Direct
Tomat Holdings Limited Unit 8 Dodington Spring, Chipping Sodbury, England, BS37 6RX Activities of a holding company Ordinary 100.00% 0.00% Direct

6. Debtors

2024 2023
£ £
Trade debtors 11,773 2,010
Amounts owed by Group undertakings 672,125 0
Amounts owed by associates 500,000 500,000
Prepayments 11,141 12,138
VAT recoverable 0 5,789
1,195,039 519,937

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors ( 592) 11,833
Amounts owed to associates 2 400,002
Amounts owed to directors 2,957,437 1,272,520
Accruals and deferred income 166,977 110,987
Taxation and social security 8,069 12,057
3,131,893 1,807,399

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
51 A ordinary shares of £ 1.00 each 51 51
49 B ordinary shares of £ 1.00 each 49 49
100 100

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amount owed to the director (included within other creditors) 2,957,437 1,272,520

The loan is interest free and there is no fixed date for repayment.