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REGISTERED NUMBER: 03275395 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 November 2024

for

Todds Highway Maintenance Ltd

Todds Highway Maintenance Ltd (Registered number: 03275395)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Todds Highway Maintenance Ltd

Company Information
for the Year Ended 30 November 2024







DIRECTORS: M Todd
G M Todd
D J Todd
C L Todd
A Todd





SECRETARY: M Todd





REGISTERED OFFICE: Henson Road
Yarm Road Business Park
Darlington
Co Durham
DL1 4QD





REGISTERED NUMBER: 03275395 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Todds Highway Maintenance Ltd (Registered number: 03275395)

Balance Sheet
30 November 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,167,024 2,848,411
Investment property 5 405,873 405,873
3,572,897 3,254,284

CURRENT ASSETS
Stocks 6 88,200 26,100
Debtors 7 1,642,061 1,744,359
Cash at bank and in hand 816,007 567,853
2,546,268 2,338,312
CREDITORS
Amounts falling due within one year 8 (972,084 ) (1,134,710 )
NET CURRENT ASSETS 1,574,184 1,203,602
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,147,081

4,457,886

CREDITORS
Amounts falling due after more than one
year

9

(731,519

)

(361,200

)

PROVISIONS FOR LIABILITIES 12 (790,242 ) (679,258 )
NET ASSETS 3,625,320 3,417,428

CAPITAL AND RESERVES
Called up share capital 13 113 103
Revaluation reserve 14 115,884 115,884
Retained earnings 3,509,323 3,301,441
3,625,320 3,417,428

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Todds Highway Maintenance Ltd (Registered number: 03275395)

Balance Sheet - continued
30 November 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 May 2025 and were signed on its behalf by:





C L Todd - Director


Todds Highway Maintenance Ltd (Registered number: 03275395)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Todds Highway Maintenance Ltd 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

There were no material departures from the standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

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

Income recognition
Income is recognised when the performance obligations attached to the delivery of services have been substantially fulfilled.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 33% on reducing balance and 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

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.


Todds Highway Maintenance Ltd (Registered number: 03275395)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 29 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 December 2023 6,619,311 52,311 317,300 6,988,922
Additions 1,475,144 3,457 27,995 1,506,596
Disposals (1,120,967 ) - - (1,120,967 )
At 30 November 2024 6,973,488 55,768 345,295 7,374,551
DEPRECIATION
At 1 December 2023 3,902,864 47,574 190,073 4,140,511
Charge for year 1,105,927 1,079 26,027 1,133,033
Eliminated on disposal (1,066,017 ) - - (1,066,017 )
At 30 November 2024 3,942,774 48,653 216,100 4,207,527
NET BOOK VALUE
At 30 November 2024 3,030,714 7,115 129,195 3,167,024
At 30 November 2023 2,716,447 4,737 127,227 2,848,411

Todds Highway Maintenance Ltd (Registered number: 03275395)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 December 2023 1,745,542
Additions 1,113,000
At 30 November 2024 2,858,542
DEPRECIATION
At 1 December 2023 788,913
Charge for year 449,090
At 30 November 2024 1,238,003
NET BOOK VALUE
At 30 November 2024 1,620,539
At 30 November 2023 956,629

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023
and 30 November 2024 405,873
NET BOOK VALUE
At 30 November 2024 405,873
At 30 November 2023 405,873

The directors consider the current valuation of investment properties to be appropriate based on current market values.

6. STOCKS
2024 2023
£    £   
Stocks 88,200 26,100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,165,070 1,353,947
Other debtors 65,117 8,198
Directors' current accounts 166,179 23,281
VAT 54,293 195,754
Prepayments 191,402 163,179
1,642,061 1,744,359

Todds Highway Maintenance Ltd (Registered number: 03275395)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 383,019 216,659
Trade creditors 357,845 755,080
Taxation and social security 201,186 73,551
Other creditors 6,058 5,167
Directors' current accounts 11,709 75,425
Accruals and deferred income 12,267 8,828
972,084 1,134,710

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 731,519 361,200

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 383,019 216,659
Between one and five years 731,519 361,200
1,114,538 577,859

Non-cancellable operating leases
2024 2023
£    £   
Within one year 18,042 18,502
Between one and five years 37,500 55,542
55,542 74,044

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 1,114,538 577,859

Hire purchase agreements are secured via the assets to which they relate.

Todds Highway Maintenance Ltd (Registered number: 03275395)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 790,242 679,258

Deferred
tax
£   
Balance at 1 December 2023 679,258
Accelerated capital allowances 110,984
Balance at 30 November 2024 790,242

13. CALLED UP SHARE CAPITAL

2024 2023
Number Class Nominal Value £    £   
103 Ordinary £1.00 103
410 A £0.10 41
390 B £0.10 39
100 C £0.10 10
100 D £0.10 10
74 E £0.10 7.40
59 F £0.10 5.9
113.30 103

14. RESERVES
Revaluation
reserve
£   
At 1 December 2023
and 30 November 2024 115,884

Revaluation reserve represents the increase in the fair value of investment property.

15. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2024 and 30 November 2023:

2024 2023
£    £   
D J Todd
Balance outstanding at start of year 23,281 97,521
Amounts advanced 223,243 218,260
Amounts repaid (200,673 ) (292,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 45,851 23,281

Todds Highway Maintenance Ltd (Registered number: 03275395)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

15. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

G M Todd
Balance outstanding at start of year (10,818 ) 102,129
Amounts advanced 382,874 366,774
Amounts repaid (251,728 ) (479,721 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 120,328 (10,818 )