Registration number:
Tobias Developments Limited
for the Period from 30 June 2023 to 30 June 2024
Tobias Developments Limited
Contents
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Tobias Developments Limited
(Registration number: 02186333)
Statement of Financial Position as at 30 June 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Investment property |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net liabilities |
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( |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Profit and loss account |
(24,765) |
(20,821) |
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Shareholders' deficit |
(24,763) |
(20,819) |
For the financial period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Tobias Developments Limited
(Registration number: 02186333)
Statement of Financial Position as at 30 June 2024 (continued)
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Tobias Developments Limited
Notes to the Unaudited Financial Statements for the Period from 30 June 2023 to 30 June 2024
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
Principal activity
The principal activity of the company is that of ownership and management of investment properties.
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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.
The financial statements are prepared in sterling which is the functional currency of the entity.
Going concern
The company meets its day-to-day working capital requirements through the support of the directors. On the basis that the company directors will continue this support, the financial statements have been prepared on a going concern basis.
Tobias Developments Limited
Notes to the Unaudited Financial Statements for the Period from 30 June 2023 to 30 June 2024 (continued)
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Accounting policies (continued) |
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. |
Revenue recognition
Turnover represents the rent received on the investment properties.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises 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.
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.
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Tobias Developments Limited
Notes to the Unaudited Financial Statements for the Period from 30 June 2023 to 30 June 2024 (continued)
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Accounting policies (continued) |
Financial instruments
Recognition and measurement
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
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Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
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Investment properties |
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2024 |
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At 30 June 2023 |
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Additions |
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At 30 June 2024 |
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The valuation of the investment properties have been undertaken by the director based on the market conditions. In respect of the investment properties held at valuation, the aggregate cost and comparable carrying amount that would be recognised if the assets were carried under the historical cost model is £382,290 (2023: £352,440).
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Stocks |
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2024 |
2023 |
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Finished goods and goods for resale |
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Debtors |
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Note |
2024 |
2023 |
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Prepayments |
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Tax repayment |
- |
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Tobias Developments Limited
Notes to the Unaudited Financial Statements for the Period from 30 June 2023 to 30 June 2024 (continued)
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Reserves |
Profit and loss account:
This reserve records retained earnings and accumulated losses.
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Related party transactions |
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Transactions with directors |
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2024 |
At 30 June 2023 |
Advances by director |
Repayments to director |
At 30 June 2024 |
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( |
( |
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( |
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2023 |
At 30 June 2022 |
Advances by director |
Repayments to director |
At 29 June 2023 |
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( |
( |
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( |