Registered number
02496563
Tooby's Limited
Unaudited Filleted Accounts
For the Year Ended
31 July 2024
Tooby's Limited
Registered number: 02496563
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 122,687 136,567
Investments 4 35,973 1,690
158,660 138,257
Current assets
Stocks 187,411 192,090
Debtors 5 25,904 33,292
Cash at bank and in hand 249,198 186,482
462,513 411,864
Creditors: amounts falling due within one year 6 (319,297) (270,072)
Net current assets 143,216 141,792
Total assets less current liabilities 301,876 280,049
Provisions for liabilities (6,628) (8,623)
Net assets 295,248 271,426
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account 285,248 261,426
Shareholders' funds 295,248 271,426
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Winn
Director
Approved by the board on 25 April 2025
Tooby's Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings over 50 years
Property improvements over 10 years
Plant and machinery 10% reducing balance
Computer equipment over 3 years
Motor vehicles 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company, including Directors. 8 8
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 232,725 66,840 62,738 362,303
At 31 July 2024 232,725 66,840 62,738 362,303
Depreciation
At 1 August 2023 141,544 61,100 23,092 225,736
Charge for the year 3,377 591 9,912 13,880
At 31 July 2024 144,921 61,691 33,004 239,616
Net book value
At 31 July 2024 87,804 5,149 29,734 122,687
At 31 July 2023 91,181 5,740 39,646 136,567
4 Investments
Other
investments
£
Cost
At 1 August 2023 1,690
Additions 34,283
At 31 July 2024 35,973
5 Debtors 2024 2023
£ £
Trade debtors 21,242 28,856
Other debtors 4,662 4,436
25,904 33,292
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 54,241 49,053
Taxation and social security costs 36,487 23,170
Other creditors 228,569 197,849
319,297 270,072
7 Other information
Tooby's Limited is a private company limited by shares and incorporated in England. Its registered office is:
Kew House
Ingleton Industrial Estate
Ingleton
Carnforth
LA6 3NU
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