Touch Wood South West Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 09621990

		31 March 2025		30 June 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		12,013		10,837

			12,013		10,837
CURRENT ASSETS
Debtors	5	7,923		10,023
Cash at bank and in hand		35,357		35,058

		43,280		45,081
Creditors: Amounts Falling Due Within One Year	6	(27,659 )		(24,847 )

NET CURRENT ASSETS (LIABILITIES)			15,621		20,234

TOTAL ASSETS LESS CURRENT LIABILITIES			27,634		31,071

Creditors: Amounts Falling Due After More Than One Year	7		(2,443 )		(4,019 )

NET ASSETS			25,191		27,052

Income and Expenditure Account			25,191		27,052

MEMBERS' FUNDS			25,191		27,052

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Touch Wood South West Limited

Balance Sheet (continued)

As At 31 March 2025

For the period ending 31 March 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 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 Income and Expenditure Account.

On behalf of the board

Astrid Arnold

Director

01/12/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Touch Wood South West Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 09621990 . The registered office is 6 Ford Street, Moretonhampstead, Newton Abbot, Devon, TQ13 8LN.

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. 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.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. 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:

Plant & Machinery	20% straight line
Motor Vehicles	20% straight line

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income and expenditure account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income and expenditure account as incurred.

2.5. Taxation

The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. 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 surplus will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Touch Wood South West Limited

Notes to the Financial Statements (continued)

For the Period 1 July 2024 to 31 March 2025

2.5. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in surplus or deficit for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 3 (2024: 3)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 July 2024	3,779	17,686	21,465
Additions	3,300	-	3,300

As at 31 March 2025	7,079	17,686	24,765

Depreciation
As at 1 July 2024	1,527	9,101	10,628
Provided during the period	834	1,290	2,124

As at 31 March 2025	2,361	10,391	12,752

Net Book Value
As at 31 March 2025	4,718	7,295	12,013

As at 1 July 2024	2,252	8,585	10,837

5. Debtors

	31 March 2025	30 June 2024
	£	£
Due within one year
Trade debtors	6,377	9,601
Prepayments and accrued income	1,220	422
Other debtors	326	-

	7,923	10,023

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Touch Wood South West Limited

Notes to the Financial Statements (continued)

For the Period 1 July 2024 to 31 March 2025

6. Creditors: Amounts Falling Due Within One Year

	31 March 2025	30 June 2024
	£	£
Net obligations under finance lease and hire purchase contracts	2,103	2,103
Trade creditors	2,344	-
Corporation tax	(713 )	-
Other taxes and social security	654	1,592
Other creditors	4,305	2,754
Accruals and deferred income	18,239	17,748
Directors' loan accounts	727	650

	27,659	24,847

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

	31 March 2025	30 June 2024
	£	£
Net obligations under finance lease and hire purchase contracts	2,443	4,019

8. Obligations Under Finance Leases and Hire Purchase

	31 March 2025	30 June 2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	2,103	2,103
Later than one year and not later than five years	2,443	4,019

	4,546	6,122

	4,546	6,122

9. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

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