Company Registration No. 12245258 (England and Wales)
TOKONEY LTD
Unaudited accounts
for the year ended 31 October 2025
TOKONEY LTD
Unaudited accounts
Contents
TOKONEY LTD
Company Information
for the year ended 31 October 2025
Company Number
12245258 (England and Wales)
Registered Office
85 GREAT PORTLAND STREET
LONDON
W1W 7LT
ENGLAND
Accountants
Sleek Accounting Ltd
4th Floor
205 Regent Street
London
W1B 4HB
TOKONEY LTD
Statement of financial position
as at 31 October 2025
Intangible assets
388,070
115,857
Cash at bank and in hand
21,577
67,611
Creditors: amounts falling due within one year
(71,321)
(62,924)
Net current assets
83,493
48,520
Total assets less current liabilities
471,689
164,692
Creditors: amounts falling due after more than one year
(278,075)
(112,241)
Called up share capital
1
1
Share premium
426,506
296,509
Profit and loss account
(232,893)
(244,059)
Shareholders' funds
193,614
52,451
For the year ending 31 October 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 10 December 2025 and were signed on its behalf by
Mr Hugo Cooke
Director
Company Registration No. 12245258
TOKONEY LTD
Notes to the Accounts
for the year ended 31 October 2025
TOKONEY LTD is a private company, limited by shares, registered in England and Wales, registration number 12245258. The registered office is 85 GREAT PORTLAND STREET, LONDON, W1W 7LT, 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 financial statements have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A – Small Entities.
The accounts are presented in £ sterling.
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:
Computer equipment
3 years straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost. The assets will be amortised once they are brought into use.
Inventories are stated at the lower of cost and net realisable value.
Turnover represents the fair value of consideration received or receivable for services provided, net of VAT. Revenue from services is recognised by reference to the stage of completion of the contract.
Current tax is recognised based on taxable profit for the year. R&D tax credits are recognised within the tax line when the Company has incurred qualifying R&D expenditure, it is probable that the credit will be received, and the amount can be estimated reliably. R&D tax credits may be recognised based on estimates prior to submission of the corporation tax return; any subsequent adjustment is recognised in the period in which it is agreed/settled.
The financial statements have been prepared on a going concern basis. The directors have prepared cash flow forecasts covering at least 12 months from the date of approval of the financial statements. These forecasts assume receipt of the FY25 R&D tax credit debtor within the forecast period and incorporate the post-year-end cost base. Based on these forecasts, the directors consider the going concern basis to be appropriate.
TOKONEY LTD
Notes to the Accounts
for the year ended 31 October 2025
At the start of the year the Company had access to an advance funding facility (the “SPRK facility”) used to accelerate receipts under the Smart Grant. This facility was fully repaid prior to 31 October 2025. All obligations under the facility ceased on repayment, and no security, guarantees or continuing covenants remain in place.
The Company had no outstanding balances at the year end in respect of any Funding Circle loans, convertible loans, or amounts due to directors. All such balances were settled in full during the year.
The Company’s only remaining borrowing at 31 October 2025 is the government-backed Bounce Back Loan. The balance outstanding at the year end is split between current and non-current liabilities as follows:
Bounce Back Loan
Current Portion £7,233
Non-current Portion £32,025
The interest expense recognised in the Statement of Comprehensive Income for the year relates to:
Interest accrued on the Bounce Back Loan in the period - recorded under bank loan interest; and
Interest and charges incurred on the SPRK facility prior to its repayment - recorded under other loan interest.
No personal guarantees were provided, and no security is held over Company assets in respect of any borrowing.
Government grants are recognised in income when there is reasonable assurance that the Company has complied with the conditions attaching to the grant and that the grant will be received. Grant income is recognised to match the related expenditure and presented within other operating income.
Other debtors include a current tax debtor of £95,000 in respect of the FY25 R&D tax credit.
TOKONEY LTD
Notes to the Accounts
for the year ended 31 October 2025
4
Intangible fixed assets
Goodwill
Other
Total
At 1 November 2024
115,857
-
115,857
Additions
136,394
415,418
551,812
Disposals
(252,251)
-
(252,251)
At 31 October 2025
-
415,418
415,418
Charge for the year
-
27,348
27,348
At 31 October 2025
-
27,348
27,348
At 31 October 2025
-
388,070
388,070
At 31 October 2024
115,857
-
115,857
Intangible fixed assets are stated at cost less accumulated amortisation and impairment. Development expenditure is capitalised as an intangible asset where the recognition criteria in FRS 102 are met. Amortisation is charged on a straight-line basis over the asset’s estimated useful economic life from the date the asset is available for use.
Prior year comparative amounts have been reclassified to present development costs within intangible assets. This reclassification has no impact on net assets or profit/(loss)
5
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Trade debtors
17,363
20,338
Accrued income and prepayments
1,540
-
TOKONEY LTD
Notes to the Accounts
for the year ended 31 October 2025
7
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
7,233
5,469
Trade creditors
33,465
52,771
Taxes and social security
1,645
4,066
Other creditors
28,978
618
8
Creditors: amounts falling due after more than one year
2025
2024
Taxes and social security
42,105
-
Allotted, called up and fully paid:
1,044,112 Ordinary shares of £0.000001 each
1.04
1.02
268,322 Ordinary A shares of £0.000001 each
0.26
0.15
Shares issued during the period:
14,737 Ordinary shares of £0.000001 each
0.01
113,322 Ordinary A shares of £0.000001 each
0.11
10
Average number of employees
During the year the average number of employees was 5 (2024: 2).