Registered number
07400730
TOAST PRESS LTD
Filleted Accounts
31 October 2024
TOAST PRESS LTD
Registered number: 07400730
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,819 3,746
Current assets
Debtors 4 77,804 75,914
Cash at bank and in hand 86,572 87,760
164,376 163,674
Creditors: amounts falling due within one year 5 (97,014) (95,665)
Net current assets 67,362 68,009
Total assets less current liabilities 71,181 71,755
Provisions for liabilities (726) (712)
Net assets 70,455 71,043
Capital and reserves
Called up share capital 202 202
Profit and loss account 70,253 70,841
Shareholders' funds 70,455 71,043
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 Drake
Director
Approved by the board on 9 December 2024
TOAST PRESS LTD
Notes to the Accounts
for the year ended 31 October 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:
Fixtures, fittings, tools and equipment 20% Straight Line
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.
Domestic Current year tax
2024 2023
Uk Corporation tax 58,065 37,070
Adjustment in respect of previous years
58,065 37,070
Deferred Tax Charge 14 -178
58,079 36,892
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 7
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2023 9,115
Additions 1,665
Disposals (2,674)
At 31 October 2024 8,106
Depreciation
At 1 November 2023 5,369
Charge for the year 955
On disposals (2,037)
At 31 October 2024 4,287
Net book value
At 31 October 2024 3,819
At 31 October 2023 3,746
4 Debtors 2024 2023
£ £
Trade debtors 77,804 70,914
Other debtors - 5,000
77,804 75,914
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,751 43
Taxation and social security costs 88,316 75,926
Accruals 5,947 19,696
97,014 95,665
6 Controlling party
The Company is controlled by Ms Ruth Drake
7 Other information
TOAST PRESS LTD is a private company limited by shares and incorporated in England. Its registered office is:
101 Clapham High Street
Studio 55
London
SW4 7TB
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