Company registration number 04568015 (England and Wales)
TOLSON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
TOLSON LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
Tolson Limited
TOLSON LIMITED
Balance sheet
as at 31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
143,204
212,074
Current assets
Stocks
10,999
51,527
Debtors
151,691
155,605
Cash at bank and in hand
15,329
80,104
178,019
287,236
Creditors: amounts falling due within one year
(194,483)
(222,048)
Net current (liabilities)/assets
(16,464)
65,188
Total assets less current liabilities
126,740
277,262
Creditors: amounts falling due after more than one year
(48,925)
(62,826)
Provisions for liabilities
4
(27,209)
(40,294)
Net assets
50,606
174,142
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
50,506
174,042
Total equity
50,606
174,142
Tolson Limited
TOLSON LIMITED
Balance sheet (CONTINUED)
as at 31 December 2024
- 2 -

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 29 August 2025 and are signed on its behalf by:
D F Watson
Director
Company Registration No. 04568015
Tolson Limited
TOLSON LIMITED
Notes to the financial statements
for the year ended 31 December 2024
- 3 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover represents the fair value of the consideration received for goods provided in the normal course of business, and is shown net of VAT. Turnover is recognised upon the provision of goods.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
15% Reducing balance basis and 33% straight line
Motor vehicles
25% Reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax is recognised on all timing differences between the carrying amount of of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is then settled or the asset realised, based on the tax rates that have been enacted or substantively enacted by the end of the reporting period.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Tolson Limited
TOLSON LIMITED
Notes to the financial statements (CONTINUED)
for the year ended 31 December 2024
1
Accounting policies
(Continued)
- 4 -
Leases

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
34
30
3
Tangible fixed assets
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
Cost
At 1 January 2024
397,233
136,409
533,642
Additions
-
0
48,869
48,869
Disposals
(340,589)
(33,990)
(374,579)
At 31 December 2024
56,644
151,288
207,932
Depreciation and impairment
At 1 January 2024
287,002
34,566
321,568
Depreciation charged in the year
6,138
27,408
33,546
Eliminated in respect of disposals
(271,283)
(19,103)
(290,386)
At 31 December 2024
21,857
42,871
64,728
Carrying amount
At 31 December 2024
34,787
108,417
143,204
At 31 December 2023
110,231
101,843
212,074
Tolson Limited
TOLSON LIMITED
Notes to the financial statements (CONTINUED)
for the year ended 31 December 2024
- 5 -
4
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
27,209
40,294
5
Parent company

The parent company is Tolson Holdings Limited, a company registered in England & Wales and whose registered office is Watson's Bakery, Bradford Road, Liversedge, WF15 6EW.

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