| Torio Limited |
| Notes to the Accounts |
| for the year ended 30 November 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.Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion. The stage of completion 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: |
|
|
Leasehold land and buildings |
Nil |
|
Plant and machinery |
20% reducing balances |
|
Fixtures, fittings, tools and equipment |
20% reducing balances |
|
|
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. |
|
|
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. |
|
|
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 |
4 |
|
4 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 December 2023 |
27,005 |
|
At 30 November 2024 |
27,005 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 December 2023 |
23,383 |
|
Provided during the year |
1,350 |
|
At 30 November 2024 |
24,733 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 November 2024 |
2,272 |
|
At 30 November 2023 |
3,622 |
|
|
|
|
|
|
|
|
|
|
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years. |
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 December 2023 |
1,676 |
|
At 30 November 2024 |
1,676 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 December 2023 |
1,647 |
|
Charge for the year |
6 |
|
At 30 November 2024 |
1,653 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 November 2024 |
23 |
|
At 30 November 2023 |
29 |
|
|
| 5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Salvus workplace Pension |
|
|
|
|
434 |
|
(281) |
|
Taxation and social security costs |
304 |
|
875 |
|
Other creditors |
10,146 |
|
9,812 |
|
|
|
|
|
|
10,884 |
|
10,406 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Other information |
|
|
Torio Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
25 Balham High Road |
|
Balham |
|
London |
|
SW12 9AL |