TOTM Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

Registered number: 09631949

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		1		1
Tangible Assets	5		14,203		21,235
Investments	6		50,000		50,000

			64,204		71,236
CURRENT ASSETS
Stocks	7	1,178,101		592,171
Debtors	8	752,952		313,458
Cash at bank and in hand		97,389		80,888

		2,028,442		986,517
Creditors: Amounts Falling Due Within One Year	9	(1,223,301 )		(503,933 )

NET CURRENT ASSETS (LIABILITIES)			805,141		482,584

TOTAL ASSETS LESS CURRENT LIABILITIES			869,345		553,820

Creditors: Amounts Falling Due After More Than One Year	10		(1,191,624 )		(1,506,543 )

NET LIABILITIES			(322,279 )		(952,723 )

CAPITAL AND RESERVES
Called up share capital	11		510		452
Share premium account			6,157,593		5,026,179
Profit and Loss Account			(6,480,382 )		(5,979,354 )

SHAREHOLDERS' FUNDS			(322,279)		(952,723)

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TOTM Limited

Balance Sheet (continued)

As At 31 December 2024

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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

St. John Pearce-Burke

Director

30th September 2025

The notes on pages 3 to 7 form part of these financial statements.

1. General Information

TOTM Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09631949 . The principal place of the business is A1-A2 Cook Court, Pacific Business Park, Cardiff, CF24 5AB, United Kingdom.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

At the balance sheet date the company had net liabilties of -£310,000 Included in the net liabilities are convertible loan notes of £366,961, which would convert to equity if they were not repaid at the end of the term.

2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	20% straight line
Plant & Machinery	20% straight line
Computer Equipment	33.3% straight line

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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TOTM Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.8. Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

2.9. Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of relevent borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

2.10. Share capital

Ordinary shares are classified as equity. Equity instruments are measured at fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3. Average Number of Employees

Average number of employees, including directors, during the year was:

	2024	2023
Office and administration	22	21

	22	21

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	1

As at 31 December 2024	1

Net Book Value
As at 31 December 2024	1

As at 1 January 2024	1

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TOTM Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2024	7,185	29,577	24,100	60,862
Additions	-	3,989	5,891	9,880
Disposals	(7,185 )	(16,677 )	(250 )	(24,112 )

As at 31 December 2024	-	16,889	29,741	46,630

Depreciation
As at 1 January 2024	5,384	15,037	19,206	39,627
Provided during the period	1,396	6,076	3,694	11,166
Disposals	(6,780 )	(11,447 )	(139 )	(18,366 )

As at 31 December 2024	-	9,666	22,761	32,427

Net Book Value
As at 31 December 2024	-	7,223	6,980	14,203

As at 1 January 2024	1,801	14,540	4,894	21,235

6. Investments

	Unlisted
	£
Cost
As at 1 January 2024	400,000

As at 31 December 2024	400,000

Provision
As at 1 January 2024	350,000

As at 31 December 2024	350,000

Net Book Value
As at 31 December 2024	50,000

As at 1 January 2024	50,000

Investments include £50,000 (2023 - £50,000) investment in subsidiary Kale & Bee Ltd. Kale & Bee Ltd is a private company, limited by shares, incorporated in England & Wales. It has share capital and reserves of £34,207.

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TOTM Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Stocks

	2024	2023
	£	£
Materials	1,178,101	592,171

8. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	440,614	207,525
Amounts owed by group undertakings	-	10,604
Other debtors	312,338	95,329

	752,952	313,458

9. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	370,716	108,009
Bank loans and overdrafts	5,391	133,064
Amounts owed to group undertakings	461,131	59,900
Other creditors	346,588	182,213
Taxation and social security	39,475	20,747

	1,223,301	503,933

Ultimate Finance Limited holds a fixed and floating charge over the assets of the company.

10. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	27,389	32,835
Other loans	785,000	-
Other loans	75,007	100,007
Convertible loans	304,228	1,373,701

	1,191,624	1,506,543

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TOTM Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

11. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
5,097,330 Ordinary Shares of £ 0.0001 each	510	452


Shares issued during the period:	£
576,030 Ordinary Shares of £ 0.0001 each	58

12. Related Party Transactions

At the balance sheet date the company owed £395,257 (Nil- 2023) to TOTM BV, and owed £65,7874 (£59,900- 2023) to Kale & Bee Limited. Both of the companies are fully owned by TOTM Limited

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