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REGISTERED NUMBER: 08311570 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 May 2024

for

The Only Way Togo Limited

The Only Way Togo Limited (Registered number: 08311570)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Only Way Togo Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: M A Hayhurst
J M Murphy





REGISTERED OFFICE: 2.5 Holmfield Mills
Holdsworth Road
Holmfield Halifax
West Yorkshire
HX3 6SN





REGISTERED NUMBER: 08311570 (England and Wales)





ACCOUNTANTS: Thompson Jones Business Solutions Limited
2 Heap Bridge
Bury
Lancashire
BL9 7HR

The Only Way Togo Limited (Registered number: 08311570)

Balance Sheet
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 9,278 11,266

CURRENT ASSETS
Debtors 6 93,117 40,823
Cash at bank 71,692 77,374
164,809 118,197
CREDITORS
Amounts falling due within one year 7 (318,099 ) (578,553 )
NET CURRENT LIABILITIES (153,290 ) (460,356 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(144,012

)

(449,090

)

CREDITORS
Amounts falling due after more than one
year

8

(13,213

)

(23,216

)
NET LIABILITIES (157,225 ) (472,306 )

CAPITAL AND RESERVES
Called up share capital 10 3 3
Retained earnings (157,228 ) (472,309 )
SHAREHOLDERS' FUNDS (157,225 ) (472,306 )

The Only Way Togo Limited (Registered number: 08311570)

Balance Sheet - continued
31 May 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 May 2025 and were signed on its behalf by:





M A Hayhurst - Director


The Only Way Togo Limited (Registered number: 08311570)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

The Only Way Togo Limited is a private company, limited by shares, registered in England and Wales.
The company's registered number and registered office address can be found on the Company
Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Computer equipment - 25% on reducing balance

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 9 ) .

The Only Way Togo Limited (Registered number: 08311570)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 June 2023 40,595 20,218 60,813
Additions - 580 580
At 31 May 2024 40,595 20,798 61,393
DEPRECIATION
At 1 June 2023 35,152 14,395 49,547
Charge for year 1,089 1,479 2,568
At 31 May 2024 36,241 15,874 52,115
NET BOOK VALUE
At 31 May 2024 4,354 4,924 9,278
At 31 May 2023 5,443 5,823 11,266

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,499 21,617
Other debtors 79,618 19,206
93,117 40,823

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 10,126 10,124
Trade creditors 2,610 3,206
Taxation and social security 300,493 551,170
Other creditors 4,870 14,053
318,099 578,553

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 13,213 23,216

The Only Way Togo Limited (Registered number: 08311570)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans less than 1 yr 10,126 10,124

Amounts falling due between one and two years:
Bank loans - 1-2 years 8,634 21,023

Amounts falling due between two and five years:
Bank loans-BBL-2-5 years 4,579 2,193

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary Share £0.01 1 1
1 Ordinary Share A £1 1 1
1 Ordinary Share B £1 1 1
3 3