Company Registration No. 12472755 (England and Wales)
JOE TOYNE DRYLINING LTD
Unaudited accounts
for the year ended 28 February 2025
JOE TOYNE DRYLINING LTD
Unaudited accounts
Contents
JOE TOYNE DRYLINING LTD
Company Information
for the year ended 28 February 2025
Company Number
12472755 (England and Wales)
Registered Office
112-113 HIGH STREET
LINCOLN
LN5 7PY
ENGLAND
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA
Templar Accounting & Business Support
Services Limited (Incorp: Blake and Co )
112 - 113 High Street,
Lincoln, Lincolnshire
LN5 7PY
JOE TOYNE DRYLINING LTD
Statement of financial position
as at 28 February 2025
Tangible assets
11,549
5,283
Cash at bank and in hand
53,214
2,955
Creditors: amounts falling due within one year
(53,578)
(43,367)
Net current assets
36,350
1,231
Total assets less current liabilities
47,899
6,514
Creditors: amounts falling due after more than one year
(1,448)
(4,947)
Provisions for liabilities
Deferred tax
(2,997)
(1,336)
Called up share capital
100
100
Profit and loss account
43,354
131
Shareholders' funds
43,454
231
For the year ending 28 February 2025 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 director acknowledges his 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 and authorised for issue on 18 May 2025 and were signed on its behalf by
Joe Toyne
Director
Company Registration No. 12472755
JOE TOYNE DRYLINING LTD
Notes to the Accounts
for the year ended 28 February 2025
JOE TOYNE DRYLINING LTD is a private company, limited by shares, registered in England and Wales, registration number 12472755. The registered office is 112-113 HIGH STREET, LINCOLN, LN5 7PY, ENGLAND.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Fixtures & fittings
15% Reducing balance
Computer equipment
33% Reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
JOE TOYNE DRYLINING LTD
Notes to the Accounts
for the year ended 28 February 2025
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 March 2024
15,570
-
223
1,195
16,988
Additions
-
9,495
-
-
9,495
At 28 February 2025
15,570
9,495
223
1,195
26,483
At 1 March 2024
10,643
-
106
956
11,705
Charge for the year
1,232
1,899
18
80
3,229
At 28 February 2025
11,875
1,899
124
1,036
14,934
At 28 February 2025
3,695
7,596
99
159
11,549
At 29 February 2024
4,927
-
117
239
5,283
Amounts falling due within one year
Amounts falling due after more than one year
Other debtors
31,532
16,300
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
3,500
3,500
Taxes and social security
16,994
12,982
Loans from directors
590
(1,850)
Deferred income
31,532
22,966
A BBL is active in the current period repayable over a term of 5 years
Yr 1. £3,500
7
Creditors: amounts falling due after more than one year
2025
2024
A BBL is active in this period with a term of 5yrs
Yr 2. £1,448
JOE TOYNE DRYLINING LTD
Notes to the Accounts
for the year ended 28 February 2025
8
Deferred taxation
2025
2024
Accelerated capital allowances
2,997
1,336
Provision at start of year
1,336
1,797
Charged to the profit and loss account
1,661
-
Credited to other comprehensive income
-
(461)
Provision at end of year
2,997
1,336
A deferred taxation reserve has been created due to accelerated capital allowances of some £2,997.
This reserve will reverse in future periods and create a tax liability at the prevailing rate on the day.
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
A long terms rental agreement came into place for a motor vehicle in the last
month of the financial period:
1 x Ford Transit Crew Cab Van.
Term liabilities
Year 1. £171 Balance
Year 2. £4,018
Year 3. £4,018
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Unsecured loan to the director
10,983
-
-
10,983
12
Average number of employees
During the year the average number of employees was 1 (2024: 1).