REGISTERED NUMBER: 11580340 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30th September 2024

for

Tovey Investments Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C G Sullivan

REGISTERED OFFICE:

Suite A

James Carter Road

Mildenhall

Bury St. Edmunds

Suffolk

IP28 7DE

REGISTERED NUMBER:

11580340 (England and Wales)

ACCOUNTANTS:

Blain Pritchard

29 High Street

Blue Town

SHEERNESS

Kent

ME12 1RN

FIXED ASSETS

Investment property

4

901,409

846,280

CURRENT ASSETS

Debtors

5

1,604

2,393

Cash at bank

2,473

2,043

4,077

4,436

CREDITORS

Amounts falling due within one year

6

271,178

242,842

NET CURRENT LIABILITIES

(267,101

)

(238,406

)

TOTAL ASSETS LESS CURRENT LIABILITIES

634,308

607,874

CREDITORS

Amounts falling due after more than one year

7

(624,681

)

(608,479

)

PROVISIONS FOR LIABILITIES

(3,807

)

-

NET ASSETS/(LIABILITIES)

5,820

(605

)

CAPITAL AND RESERVES

Called up share capital

1

1

Fair value reserve

9

20,000

-

Retained earnings

(14,181

)

(606

)

5,820

(605

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 19th June 2025 and were signed by:

C G Sullivan - Director

1.	STATUTORY INFORMATION

Tovey Investments 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 as modified by the revaluation of certain assets.

Turnover

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

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st October 2023

846,280

Additions

30,129

Revaluations

25,000

At 30th September 2024

901,409

NET BOOK VALUE

At 30th September 2024

901,409

At 30th September 2023

846,280

Fair value at 30th September 2024 is represented by:

£

Valuation in 2023

(6,278

)

Valuation in 2024

25,000

Cost

882,687

901,409

If investment property had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

882,687

852,558

Investment property was valued on an open market basis on 30th September 2024 by the director .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

1,604

2,393

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed to associates

207,862

186,576

Taxation and social security

-

1,051

Other creditors

63,316

55,215

271,178

242,842

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

624,681

608,479

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

624,681

608,479

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

624,681

-

Paragon Finance holds a charge of 20 Betts Avenue, Hucknall

Aldermore Bank Plc holds a charge over Flat 1, St Lukes College Avenue, Rhos on Sea, Colwyn Bay

Topaz Finance Ltd holds a charge over 79 Perry Road, Nottingham

Paragon Finance holds a charge over Flat 6, St Lukes College Avenue, Rhos on Sea, Colwyn Bay

9.

RESERVES

Fair

value

reserve

£

Investment property

25,000

Deferred tax

(5,000

)

At 30th September 2024

20,000

10.	RELATED PARTY DISCLOSURES

Mr C Sullivan is the director and shareholder of both CSU Consultancy Ltd and Tovey Investments Ltd. Inter company loan from CSU Consultancy Ltd of 207,862 was outstanding at the year end..

Mr C Sullivan also has a directors loan account and was owed £60,577 at the year end.