TORIM Limited 10910142 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is Investment Company Digita Accounts Production Advanced 6.30.9574.0 true true 10910142 2023-09-01 2024-08-31 10910142 2024-08-31 10910142 core:RetainedEarningsAccumulatedLosses 2024-08-31 10910142 core:ShareCapital 2024-08-31 10910142 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-08-31 10910142 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2024-08-31 10910142 core:CurrentFinancialInstruments 2024-08-31 10910142 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 10910142 core:FinancialLiabilitiesFairValueThroughProfitOrLoss 2024-08-31 10910142 bus:SmallEntities 2023-09-01 2024-08-31 10910142 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 10910142 bus:FilletedAccounts 2023-09-01 2024-08-31 10910142 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 10910142 bus:RegisteredOffice 2023-09-01 2024-08-31 10910142 bus:Director1 2023-09-01 2024-08-31 10910142 bus:Director2 2023-09-01 2024-08-31 10910142 bus:Director3 2023-09-01 2024-08-31 10910142 bus:Director6 2023-09-01 2024-08-31 10910142 bus:Director7 2023-09-01 2024-08-31 10910142 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10910142 countries:EnglandWales 2023-09-01 2024-08-31 10910142 2022-09-01 2023-08-31 10910142 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-08-31 10910142 core:FinancialLiabilitiesFairValueThroughProfitOrLoss 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 10910142

TORIM Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

TORIM Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

TORIM Limited

Company Information

Directors

G J Mucklow

M A Mucklow

I C J Mucklow

T P J Mucklow

R A J Mucklow

Registered office

Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcs
WR9 0QH

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

TORIM Limited

(Registration number: 10910142)
Balance Sheet as at 31 August 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Other financial assets

4

26,476,119

20,372,776

Current assets

 

Debtors

5

161,925

-

Cash at bank and in hand

 

899,510

5,169,503

 

1,061,435

5,169,503

Creditors: Amounts falling due within one year

6

(187,686)

(440,669)

Net current assets

 

873,749

4,728,834

Total assets less current liabilities

 

27,349,868

25,101,610

Provisions for liabilities

(609,858)

(240,031)

Net assets

 

26,740,010

24,861,579

Capital and reserves

 

Called up share capital

20,000,000

20,000,000

Retained earnings

6,740,010

4,861,579

Shareholders' funds

 

26,740,010

24,861,579

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 April 2025 and signed on its behalf by:
 

.........................................
G J Mucklow
Director

   
     
 

TORIM Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcs
WR9 0QH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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

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 taxable income.

 

TORIM Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

TORIM Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Financial instruments

Classification
The company invests in a varied portfolio of debt and equity instruments.
 Recognition and measurement
Equity instruments are initially measuered at cost and are subsequently measured at fair value through profit and loss.
Basic debt instruments are accounted for using the amorised cost method. A significant proportion of debt instruments are denominated in foreign currencies and are revalued at the prevailing foreign exchange rate at the year end.
Complex debt instruments are initially measuered at cost and are subsequently measured at fair value through profit and loss.


 Impairment
Financial instruments are assed for impairment, and impairment losses are recognised only if there is objective evidence as a result of one or more events that occured after the initial recognition of the asset.

Current versus non-current classification

The company holds debt and equity instruments for long term capital growth. These financal instruments are therefore shown as fixed assets in the company balance sheet.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

TORIM Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Other financial assets (current and non-current)

Financial assets
£

Non-current financial assets

Cost or valuation

At 1 September 2023

20,372,776

Additions

5,567,502

Disposals

(1,237,867)

Fair value and forex adjustments

1,773,708

At 31 August 2024

26,476,119

Carrying amount

At 31 August 2024

26,476,119

5

Debtors

Current

2024
£

2023
£

Other debtors

161,925

-

 

161,925

-

6

Creditors

Note

2024
£

(As restated)

2023
£

Due within one year

 

Trade creditors

 

90

60

Amounts owed to related parties

-

407,542

Other creditors

 

187,596

33,067

 

187,686

440,669

 

TORIM Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Financial instruments

Categorisation of financial instruments

2024
 £

2023
 £

Financial assets measured at fair value through profit or loss

22,067,389

15,754,434

Financial assets that are debt instruments measured at amortised cost

4,408,730

4,618,342

 

26,476,119

20,372,776