3 3 Tobias Developments Limited 02186333 false 2023-06-30 2024-06-30 2024-06-30 The principal activity of the company is that of ownership and management of investment properties. Digita Accounts Production Advanced 6.30.9574.0 true true 02186333 2023-06-30 2024-06-30 02186333 2024-06-30 02186333 2 2024-06-30 02186333 core:CurrentFinancialInstruments 2024-06-30 02186333 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 02186333 1 2024-06-30 02186333 bus:SmallEntities 2023-06-30 2024-06-30 02186333 bus:AuditExemptWithAccountantsReport 2023-06-30 2024-06-30 02186333 bus:FilletedAccounts 2023-06-30 2024-06-30 02186333 bus:SmallCompaniesRegimeForAccounts 2023-06-30 2024-06-30 02186333 bus:RegisteredOffice 2023-06-30 2024-06-30 02186333 bus:CompanySecretaryDirector1 2023-06-30 2024-06-30 02186333 bus:PrivateLimitedCompanyLtd 2023-06-30 2024-06-30 02186333 countries:England 2023-06-30 2024-06-30 02186333 1 2023-06-30 2024-06-30 02186333 2023-06-29 02186333 1 2023-06-29 02186333 2022-06-30 2023-06-29 02186333 2023-06-29 02186333 2 2023-06-29 02186333 core:CurrentFinancialInstruments 2023-06-29 02186333 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-29 02186333 1 2023-06-29 02186333 1 2022-06-30 2023-06-29 02186333 1 2022-06-29 xbrli:pure iso4217:GBP

Registration number: 02186333

Tobias Developments Limited

Unaudited Filleted Financial Statements

for the Period from 30 June 2023 to 30 June 2024

 

Tobias Developments Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Tobias Developments Limited

(Registration number: 02186333)
Statement of Financial Position as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

615,204

585,354

Current assets

 

Stocks

5

179,190

135,040

Debtors

6

1,974

3,080

Cash at bank and in hand

 

693

456,358

 

181,857

594,478

Creditors: Amounts falling due within one year

7

(763,595)

(1,142,422)

Net current liabilities

 

(581,738)

(547,944)

Total assets less current liabilities

 

33,466

37,410

Provisions for liabilities

(58,229)

(58,229)

Net liabilities

 

(24,763)

(20,819)

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

(24,765)

(20,821)

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:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 26 June 2025 and signed on its behalf by:
 


Mr D A D Telfer-Smollett
Company secretary and director

 

Tobias Developments Limited

Notes to the Unaudited Financial Statements for the Period from 30 June 2023 to 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Bannadon Farm
Broadbury
Okehampton
Devon
EX20 4LQ

Principal activity

The principal activity of the company is that of ownership and management of investment properties.

2

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)

2

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

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit and loss.

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)

2

Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3 (2023 - 3).

4

Investment properties

2024
£

At 30 June 2023

585,354

Additions

29,850

At 30 June 2024

615,204

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).

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

179,190

135,040

6

Debtors

Note

2024
£

2023
£

Prepayments

 

1,974

1,850

Tax repayment

-

1,230

 

1,974

3,080

 

Tobias Developments Limited

Notes to the Unaudited Financial Statements for the Period from 30 June 2023 to 30 June 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

995

995

Accruals and deferred income

2,690

885

Other creditors

759,910

1,140,542

763,595

1,142,422

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9

Related party transactions

Transactions with directors

2024

At 30 June 2023
£

Advances by director
£

Repayments to director
£

At 30 June 2024
£

(1,140,542)

(41,042)

421,674

(759,910)

         
       

 

2023

At 30 June 2022
£

Advances by director
£

Repayments to director
£

At 29 June 2023
£

(1,176,927)

(4,533)

40,918

(1,140,542)