Toby Electronics Limited

Contents
	Page
Strategic Report	1
Directors' Report	2—3
Independent Auditor's Report	4—6
Profit and Loss Account	7
Statement of Comprehensive Income	8
Balance Sheet	9—10
Statement of Changes in Equity	11
Statement of Cash Flows	12
Notes to the Statement of Cash Flows	13
Notes to the Financial Statements	14—20

The directors present their strategic report for the year ended 31 March 2025.

Review of the Business

During the year, the company experienced a 20% decrease in turnover, with revenues falling to £8,294,228 from £10,368,546 in 2024. The gross profit margin decreased to 28.4% (2024: 29.7%), reflecting the challenging trading environment throughout the year.

Stock levels reduced significantly, resulting in a stock turnover ratio of 8.75 times (2024: 5.66 times) based on year-end stock and cost of sales values. Liquidity improved, with the current ratio rising to 3.64 times (2024: 2.84 times) and the acid test ratio increasing to 3.05 (2024: 2.10).

Despite reduced revenues and a small post-tax loss of £41,375 (2024: profit of £441,308), the company maintained a strong overall financial position. The directors consider the year-end financial position to be satisfactory. However, they remain cautious about the continuing pressures of UK inflation on wage costs, increases in employment-related taxation, and elevated energy and utility prices, all of which continue to affect operating margins.

The fall in turnover reflects the ongoing correction in the global components market following the period of over-purchasing by customers during the post-Covid supply shortages. Market demand has since reduced sharply, though signs of stabilisation have begun to appear.

The company continues to focus on broadening its product range, strengthening customer relationships, and enhancing targeted marketing initiatives. These activities, combined with competitive pricing and strong customer support, remain central to the company’s growth strategy.

To support a return to revenue growth, the business plans further improvements to its online sales channels, greater investment in stock analysis and forecasting tools, and continued prioritisation of high-quality customer service.

Principal Risks and Uncertainties

The company continues to be exposed to the wider economic slowdown across the UK, Europe, and Asia, which is affecting customer confidence and medium-term demand levels. In addition, geopolitical instability—particularly conflicts in Eastern Europe and the Middle East—continues to create uncertainty in global markets, impacting material costs, utility pricing, and international shipping charges.

The directors remain committed to identifying risks at the earliest opportunity and responding quickly in order to protect and enhance the company’s long-term performance.

On behalf of the board

Mr T J Portlock

Director

12/12/2025

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Toby Electronics Limited

Company No. 01713516

Directors' Report For The Year Ended 31 March 2025

Directors' Report

The directors present their report and the financial statements for the year ended 31 March 2025.

Principal Activity

The company's principal activity continues to be the distribution and modification of electrical components.

Directors

The directors who held office during the year were as follows:

Mr J M Portlock

Mr B Molyneux

Mr T J Portlock

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

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Toby Electronics Limited

Directors' Report (continued)

For The Year Ended 31 March 2025

Independent Auditors

The auditors, Handleys Accountants Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr T J Portlock

Director

12/12/2025

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Independent Auditor's Report

to the Members of

Toby Electronics Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Toby Electronics Limited for the year ended 31 March 2025 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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Independent Auditor's Report (continued)

to the Members of

Toby Electronics Limited

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 2—3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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Independent Auditor's Report (continued)

to the Members of

Toby Electronics Limited

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Enquiry of management, those charged with governance around actual and potential litigation and claims;

- Enquiry of entity staff in compliance functions to identify any instances of non-compliance with laws and regulations;

- Reviewing minutes of meetings of those charged with governance;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations

- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr David Handley (Senior Statutory Auditor)

for and on behalf of Handleys Accountants Limited , Statutory Auditor

12/12/2025

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Toby Electronics Limited

Profit and Loss Account

For The Year Ended 31 March 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER	2	8,294,228	10,368,546
Cost of sales		(5,942,436 )	(7,289,196 )

GROSS PROFIT		2,351,792	3,079,350

Administrative expenses		(2,357,017 )	(2,449,918 )

OPERATING (LOSS)/PROFIT	3	(5,225 )	629,432
Other interest receivable and similar income	8	-	104
Interest payable and similar charges	9	(7,072 )	(30,373 )

(LOSS)/PROFIT BEFORE TAXATION		(12,297 )	599,163
Tax on (Loss)/profit	10	(4,328 )	(157,855 )

(LOSS)/PROFIT AFTER TAXATION BEING (LOSS)/PROFIT FOR THE FINANCIAL YEAR		(16,625 )	441,308

The notes on pages 13 to 20 form part of these financial statements.

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Toby Electronics Limited

Statement of Comprehensive Income

For The Year Ended 31 March 2025

Statement of Comprehensive Income

	2025	2024
	£	£
(Loss)/profit for the financial year	(16,625 )	441,308

Other comprehensive income for the year	-	-

Total comprehensive income for the year	(16,625 )	441,308

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Toby Electronics Limited

Balance Sheet

As At 31 March 2025

Balance Sheet

Registered number: 01713516

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	11		99,000		-
Tangible Assets	12		1,538,861		1,565,415

			1,637,861		1,565,415
CURRENT ASSETS
Stocks	13	679,314		1,288,212
Debtors	14	2,124,238		1,752,023
Cash at bank and in hand		1,364,687		1,879,134

		4,168,239		4,919,369
Creditors: Amounts Falling Due Within One Year	15	(1,144,886 )		(1,729,445 )

NET CURRENT ASSETS (LIABILITIES)			3,023,353		3,189,924

TOTAL ASSETS LESS CURRENT LIABILITIES			4,661,214		4,755,339

Creditors: Amounts Falling Due After More Than One Year	16		-		(77,500 )

NET ASSETS			4,661,214		4,677,839

CAPITAL AND RESERVES
Called up share capital	17		5,000		5,000
Profit and Loss Account			4,656,214		4,672,839

SHAREHOLDERS' FUNDS			4,661,214		4,677,839

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Toby Electronics Limited

Balance Sheet (continued)

As At 31 March 2025

On behalf of the board

Mr B Molyneux

Director

12/12/2025

The notes on pages 13 to 20 form part of these financial statements.

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Toby Electronics Limited

Statement of Changes in Equity

For The Year Ended 31 March 2025

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 April 2023	5,000	4,483,536	4,488,536
Profit for the year and total comprehensive income	-	441,308	441,308

Dividends paid	-	(252,005)	(252,005)

As at 31 March 2024 and 1 April 2024	5,000	4,672,839	4,677,839


Loss for the year and total comprehensive income	-	(16,625 )	(16,625)

As at 31 March 2025	5,000	4,656,214	4,661,214

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Toby Electronics Limited

Statement of Cash Flows

For The Year Ended 31 March 2025

Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash (used in)/generated from operations	1	(5,812 )	844,952
Interest paid		(7,072 )	(30,373 )
Tax paid		(159,264 )	(158,526 )

Net cash (used in)/generated from operating activities		(172,148 )	656,053

Cash flows from investing activities
Purchase of intangible assets		(99,000 )	-
Purchase of tangible assets		(15,799 )	(813 )
Interest received		-	104

Net cash used in investing activities		(114,799 )	(709 )

Cash flows from financing activities
Equity dividends paid		-	(252,005 )
Repayment of bank borrowings		(227,500 )	(337,122 )

Net cash used in financing activities		(227,500 )	(589,127 )



(Decrease)/increase in cash and cash equivalents		(514,447 )	66,217
Cash and cash equivalents at beginning of year	2	1,879,134	1,812,917

Cash and cash equivalents at end of year	2	1,364,687	1,879,134

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Toby Electronics Limited

Notes to the Statement of Cash Flows

For The Year Ended 31 March 2025

Notes to the Statement of Cash Flows

1. Reconciliation of (loss)/profit for the financial year to cash (used in)/generated from operations

	2025	2024
	£	£
(Loss)/profit for the financial year	(16,625 )	441,308
Adjustments for:
Tax on (loss)/profit	4,328	157,855
Interest expense	7,072	30,373
Interest income	-	(104 )
Depreciation of tangible assets	42,353	41,407
Movements in working capital:
Decrease in stocks	608,898	210,666
(Increase)/decrease in trade and other debtors	(374,243 )	948,477
Decrease in trade and other creditors	(277,595 )	(985,030 )

Net cash (used in)/generated from operations	(5,812 )	844,952

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	1,364,687	1,879,134

3. Analysis of changes in net funds

	As at 1 April 2024	Cash flows	As at 31 March 2025
	£	£	£
Cash at bank and in hand	1,879,134	(514,447)	1,364,687
Debts falling due within one year	(150,000 )	150,000	-
Debts falling due after more than one year	(77,500)	77,500	-

	1,651,634	(286,947)	1,364,687

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Toby Electronics Limited

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. Accounting Policies

1.1. 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 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.

1.2. 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.

1.3. Intangible Fixed Assets and Amortisation - Other Intangible

This balance relates to the development of a new website. The cost is capitalised and amortised on a straight-line basis over its estimated useful economic life of three years, commencing from the date the website is ready for use. The amortisation charge is recognised in the profit and loss account.

1.4. 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:

Freehold	2% on cost
Plant & Machinery	various rates on cost or reducing balance
Motor Vehicles	25% on reducing balance

1.5. 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 is determined using the first-in, first-out method. 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.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

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Toby Electronics Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

1.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

1.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit 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 profit. 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 profits 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 profits will be available to allow all or part of the asset to be recovered.

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 profit or loss for the year, 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.

2. Turnover by Geographic Analysis

Analysis of turnover by geographical market is as follows:

	2025	2024
	£	£
United Kingdom	6,159,014	7,345,566
Europe	320,532	338,661
Rest of the world	1,814,682	2,684,319

	8,294,228	10,368,546

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Toby Electronics Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

3. Operating (Loss)/profit

The operating (loss)/profit is stated after charging:

	2025	2024
	£	£
Bad debts	7,855	(14)
Depreciation of tangible fixed assets	42,353	41,407

4. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	14,950	13,500

5. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024
	£	£
Wages and salaries	1,694,021	1,830,369
Social security costs	206,263	224,974
Other pension costs	49,550	53,598

	1,949,834	2,108,941

6. Average Number of Employees

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

	2025	2024
Directors	3	3
General salaries	12	12
Sales salaries	7	7

	22	22

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Toby Electronics Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

7. Directors' remuneration

	2025	2024
	£	£
Emoluments	856,692	971,640
Company contributions to money purchase pension schemes	30,000	30,000

	886,692	1,001,640

Information regarding the highest paid director was as follows:

	2025	2024
	£	£
Emoluments	334,344	379,200
Company contributions to defined benefit pension schemes	10,000	10,000

	344,344	389,200

8. Interest Receivable and Similar Income

	2025	2024
	£	£
Interest on taxation	-	104

	-	104

9. Interest Payable

	2025	2024
	£	£
Bank loans and overdrafts	5,127	30,373
Finance charges payable under finance leases and hire purchase contracts	1,945	-

	7,072	30,373

10. Tax on Profit

	Tax Rate		2025	2024
	2025	2024	£	£
UK Corporation Tax	19.0%	25.0%	2,300	159,264
Total Current Tax Charge			2,300	159,264
Deferred taxation RT			2,028	(1,409 )

Total tax charge for the period			4,328	157,855

...CONTINUED

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Toby Electronics Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

	2025	2024
	£	£
Profit before tax	(12,297)	599,163

Breakdown of tax charge is:
Tax on profit at 19% (UK standard rate)	(2,336 )	149,791
Goodwill/depreciation not allowed for tax	8,047	10,352
Expenses not deductible for tax purposes	129	106
Capital allowances	(3,540 )	(985 )
Short term timing differences	2,028	(1,409 )

Total tax charge for the period	4,328	157,855

11. Intangible Assets

	Other
	£
Cost
As at 1 April 2024	-
Additions	99,000

As at 31 March 2025	99,000

Net Book Value
As at 31 March 2025	99,000

As at 1 April 2024	-

12. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Total
	£	£	£	£
Cost
As at 1 April 2024	2,090,702	292,412	-	2,383,114
Additions	-	-	15,799	15,799

As at 31 March 2025	2,090,702	292,412	15,799	2,398,913

Depreciation
As at 1 April 2024	549,020	268,679	-	817,699
Provided during the period	31,832	6,571	3,950	42,353

As at 31 March 2025	580,852	275,250	3,950	860,052

Net Book Value
As at 31 March 2025	1,509,850	17,162	11,849	1,538,861

As at 1 April 2024	1,541,682	23,733	-	1,565,415

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Toby Electronics Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

13. Stocks

	2025	2024
	£	£
Stock	679,314	1,288,212

14. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	2,067,634	1,685,815
Other debtors	54,754	62,330
Deferred tax current asset	1,850	3,878

	2,124,238	1,752,023

15. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	890,386	1,077,369
Bank loans and overdrafts	-	150,000
Corporation tax	2,300	159,264
Other taxes and social security	162,918	224,605
Other creditors	89,282	118,207

	1,144,886	1,729,445

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

	2025	2024
	£	£
Bank loans	-	77,500

	-	77,500

17. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
1,250 Ordinary A shares of £ 1.00 each	1,250	1,250
1,250 Ordinary B shares of £ 1.00 each	1,250	1,250
1,123 Ordinary C shares of £ 1.00 each	1,123	1,123
852 Ordinary D shares of £ 1.00 each	852	852
525 Ordinary E shares of £ 1.00 each	525	525

	5,000	5,000

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Toby Electronics Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

18. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £49,550 (2024: £53,598).

At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.

19. Dividends

	2025	2024
	£	£
On equity shares:
Final dividend paid	-	252,005

	-	252,005

20. Related Party Disclosures

T J Portlock - Director, owns 50% of the ordinary share capital of Shun Chang Limited.

In the year ended 31 March 2025, purchases of £46,362 were made from Shun Chang Limited (£87,825, 2024).

At the year ended 31 March 2025, £772 was owed to Shun Chang Limited, relating to payments on account in respect of future purchase orders (£59,272, 2024).

21. General Information

Toby Electronics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01713516 . The registered office is Beaumont Road Industrial Estate, Beaumont Road, Banbury, Oxfordshire, OX16 1TU.

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