Registered number
03815987
Odds & Todds Limited
Unaudited Filleted Accounts
30 September 2024
Odds & Todds Limited
Registered number: 03815987
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 141,595 37,969
Investments 5 156,257 156,257
297,852 194,226
Current assets
Stocks 114,500 106,750
Debtors 6 24,613 23,751
Cash at bank and in hand 99,625 95,261
238,738 225,762
Creditors: amounts falling due within one year 7 (90,830) (78,522)
Net current assets 147,908 147,240
Net assets 445,760 341,466
Capital and reserves
Called up share capital 2 2
Profit and loss account 445,758 341,464
Shareholder's funds 445,760 341,466
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J R Smith
Director
Approved by the board on 26 June 2025
Odds & Todds Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Warehouse over its expected useful life of 20 years
Garage and Workshop over its expected useful life of 20 years
Plant and machinery 15% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 6,750
At 30 September 2024 6,750
Amortisation
At 1 October 2023 6,750
At 30 September 2024 6,750
Net book value
At 30 September 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 22,024 9,786 71,628 103,438
Additions 92,117 - 37,500 129,617
Disposals - - (16,083) (16,083)
At 30 September 2024 114,141 9,786 93,045 216,972
Depreciation
At 1 October 2023 11,091 8,065 46,313 65,469
Charge for the year 5,706 258 14,262 20,226
On disposals - - (10,318) (10,318)
At 30 September 2024 16,797 8,323 50,257 75,377
Net book value
At 30 September 2024 97,344 1,463 42,788 141,595
At 30 September 2023 10,933 1,721 25,315 37,969
5 Investments
Other
investments
£
Cost
At 1 October 2023 156,257
At 30 September 2024 156,257
6 Debtors 2024 2023
£ £
Other debtors 24,613 23,751
7 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 47,828 50,852
Other creditors 43,002 27,670
90,830 78,522
8 Related party transactions
Included in other creditors is an amount of £515 (2023 -£148) due from the Director, J Smith, repayable on demand and without interest.
9 Other information
Odds & Todds Limited is a private company limited by shares and incorporated in England. Its registered office is:
118 High Street
Staple Hill
Bristol
BS16 5HH
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