Tofay Investments Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 7

Tofay Investments Limited

(Registration number: 00695384)
Statement of Financial Position as at 5 April 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	12,047	15,102
Investment property	5	667,495	667,495
		679,542	682,597
Current assets
Debtors	6	2,121	1,250
Cash at bank and in hand		47,755	22,670
		49,876	23,920
Creditors: Amounts falling due within one year	7	(173,392)	(169,246)
Net current liabilities		(123,516)	(145,326)
Total assets less current liabilities		556,026	537,271
Creditors: Amounts falling due after more than one year	7	(50,912)	(62,118)
Provisions for liabilities		(2,289)	(2,869)
Net assets		502,825	472,284
Capital and reserves
Called up share capital		50	50
Share premium reserve		62,758	62,758
Profit and loss account		440,017	409,476
Shareholders' funds		502,825	472,284

For the financial year ending 5 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 28 December 2025 and signed on its behalf by:
 

Tofay Investments Limited

(Registration number: 00695384)
Statement of Financial Position as at 5 April 2025 (continued)

Mrs S A Sato Director

Tofay Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Morwenna
Sidmouth Road
Lyme Regis
Dorset
DT7 3ES

Principal activity

The principal activity of the company is that of property dealing and letting.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Tofay Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% reducing balance

Tofay Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025 (continued)

2	Accounting policies (continued)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

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 statement of comprehensive income over the period of the relevant 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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2024 - 1).

Tofay Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025 (continued)

4	Tangible assets

	Fixtures and fittings £	Total £
Cost or valuation
At 6 April 2024	28,964	28,964
Additions	958	958
At 5 April 2025	29,922	29,922
Depreciation
At 6 April 2024	13,862	13,862
Charge for the year	4,013	4,013
At 5 April 2025	17,875	17,875
Carrying amount
At 5 April 2025	12,047	12,047
At 5 April 2024	15,102	15,102

5	Investment properties

	2025 £
At 6 April	667,495
At 5 April	667,495

The investment properties are included at fair value. The valuations have been confirmed by the directors. There has been no deferred tax asset recognised on the investment property.

There has been no valuation of investment property by an independent valuer.

Tofay Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025 (continued)

6

Debtors

	2025 £	2024 £
Trade debtors	65	567
Prepayments	2,056	683
	2,121	1,250

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Loans and borrowings	8,255	6,063
Trade creditors	250	644
Taxation and social security	8,195	8,245
Accruals and deferred income	9,011	10,219
Other creditors	147,681	144,075
	173,392	169,246

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Due after one year
Loans and borrowings	50,912	62,118

8	Related party transactions

Transactions with directors

2025	At 6 April 2024 £	Advance/(credit) to director £	Repayments by director £	At 5 April 2025 £
Directors	(144,004)	(1,684)	(1,923)	(147,611)

2024	At 6 April 2023 £	Advance/(credit) to director £	Repayments by director £	At 5 April 2024 £
Directors	(147,202)	10,891	(7,693)	(144,004)