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Company Registration No. 03834019 (England and Wales)
Todvale Developments Limited Unaudited accounts for the year ended 31 December 2024
Todvale Developments Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Todvale Developments Limited Company Information for the year ended 31 December 2024
Directors
Mr Paul Vincent Mr A Godfrey Pickles Mrs Wendy Connor Mr Vijay Srivastava Mr John Porter
Company Number
03834019 (England and Wales)
Registered Office
29-33 UNION STREET OLDHAM LANCASHIRE OL1 1HH
Accountants
S A Accounting Services Limited 24 Guardian Close Rochdale OL12 9RU
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Todvale Developments Limited Statement of financial position as at 31 December 2024
2024
2023
Notes
£
£
Fixed assets
Investment property
4
90,597
90,597
Current assets
Cash at bank and in hand
983
1,580
Creditors: amounts falling due within one year
5
(4,707)
(4,798)
Net current liabilities
(3,724)
(3,218)
Net assets
86,873
87,379
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
85,873
86,379
Shareholders' funds
86,873
87,379
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2025 and were signed on its behalf by
Mrs Wendy Connor Director Company Registration No. 03834019
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Todvale Developments Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Todvale Developments Limited is a private company, limited by shares, registered in England and Wales, registration number 03834019. The registered office is 29-33 UNION STREET, OLDHAM, LANCASHIRE, OL1 1HH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the total invoice value, excluding value added tax, of rents receivable during the year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 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 or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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Todvale Developments Limited Notes to the Accounts for the year ended 31 December 2024
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a 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. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4
Investment property
2024
£
Fair value at 1 January 2024
90,597
At 31 December 2024
90,597
5
Creditors: amounts falling due within one year
2024
2023
£
£
Taxes and social security
4,032
4,123
Accruals
675
675
4,707
4,798
6
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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