Torquay Investments Ltd - Filleted accounts

Registered number

05077055

Torquay Investments Ltd

Filleted Accounts

31 December 2024

Torquay Investments Ltd
Registered number:		05077055
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Investments	3		1,225,000			1,225,000

Current assets
Debtors	4	98,678			107,819
Cash at bank and in hand		244			261
		98,922			108,080

Creditors: amounts falling due within one year	5	(1,295)			(7,986)

Net current assets			97,627			100,094

Total assets less current liabilities			1,322,627			1,325,094


Provisions for liabilities			(82,240)			(82,240)


Net assets			1,240,387			1,242,854

Capital and reserves
Called up share capital			4			4
Revaluation reserve	6		613,929			613,929
Profit and loss account			626,454			628,921

Shareholder's funds			1,240,387			1,242,854

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.




Mr J Buckholt
Director
Approved by the board on 20 August 2025

Torquay Investments Ltd
Notes to the Accounts
for the year ended 31 December 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.

	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.


2	Employees	2024		2023
Number			Number

	Average number of persons employed by the company	0		0


3	Investments

Other
investments
£
	Cost
	At 1 January 2024			1,225,000

	At 31 December 2024			1,225,000


4	Debtors	2024		2023
£			£

	Amounts owed by group undertakings and undertakings in which the company has a participating interest	98,666		107,807
	Other debtors	12		12
		98,678		107,819


5	Creditors: amounts falling due within one year	2024		2023
£			£

	Taxation and social security costs	-		7,003
	Directors loan	795		483
	Other creditors	500		500
		1,295		7,986


6	Revaluation reserve	2024		2023
£			£

	At 1 January 2024	613,929		613,929

	At 31 December 2024	613,929		613,929


7	Other information

	Torquay Investments Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	9 High Street
	Wellington
	Somerset
	TA21 8QT