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Company No: 14998045 (England and Wales)

# TOOGOOD BROWN LTD

### Unaudited Financial Statements
For the financial year ended 31 July 2025
Pages for filing with the registrar

TOOGOOD BROWN LTD

## Unaudited Financial Statements

For the financial year ended 31 July 2025

Contents

TOOGOOD BROWN LTD

## BALANCE SHEET

As at 31 July 2025
TOOGOOD BROWN LTD

## BALANCE SHEET (continued)

As at 31 July 2025

| Note | 31.07.2025 |  | 31.07.2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 0 |  | 131,463
Investment property | 4 | 225,000 |  | 0
|  | 225,000 |  | 131,463
Current assets |  |  |  |
Cash at bank and in hand |  | 6,444 |  | 7,650
|  | 6,444 |  | 7,650
Creditors: amounts falling due within one year | 5 | ( 112,113) |  | ( 130,232)
Net current liabilities |  | (105,669) |  | (122,582)
Total assets less current liabilities |  | 119,331 |  | 8,881
Provision for liabilities |  | ( 23,384) |  | 0
Net assets |  | 95,947 |  | 8,881
Capital and reserves |  |  |  |
Called-up share capital | 6 | 2 |  | 2
Profit and loss account |  | 95,945 |  | 8,879
Total shareholders' funds |  | 95,947 |  | 8,881

The total profit and loss reserves of £95,945 comprise £93,537 of non-distributable reserves.

For the financial year ending 31 July 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 financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Toogood Brown Ltd (registered number: 14998045) were approved and authorised for issue by the Board of Directors on 23 April 2026. They were signed on its behalf by:

Mr C R A Toogood Director |

TOOGOOD BROWN LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2025
TOOGOOD BROWN LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

##### General information and basis of accounting

Toogood Brown Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hughenden Rock Road, Rock, St Minver, PL27 6PW, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the rental fees have been transferred to the buyer.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings | not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| Year ended 31.07.2025 |  | Period from 12.07.2023 to 31.07.2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 2

#### 3. Tangible assets

| Land and buildings |  | Total
| £ |  | £
Cost |  |  |
At 01 August 2024 | 131,463 |  | 131,463
Transfers | ( 131,463) |  | ( 131,463)
At 31 July 2025 | 0 |  | 0
Accumulated depreciation |  |  |
At 01 August 2024 | 0 |  | 0
At 31 July 2025 | 0 |  | 0
Net book value |  |  |
At 31 July 2025 | 0 |  | 0
At 31 July 2024 | 131,463 |  | 131,463

#### 4. Investment property

| Investment property
| £
Valuation |
As at 01 August 2024 | 0
Additions | 131,463
Fair value movement | 93,537
As at 31 July 2025 | 225,000

The fair value of the company's investment property was revalued on 31 July 2025 by the directors. An independent valuer was not involved.

#### 5. Creditors: amounts falling due within one year

| 31.07.2025 |  | 31.07.2024
| £ |  | £
Amounts owed to directors | 105,624 |  | 125,474
Accruals | 1,440 |  | 1,400
Taxation and social security | 5,049 |  | 3,358
| 112,113 |  | 130,232

#### 6. Called-up share capital

| 31.07.2025 |  | 31.07.2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
2 Ordinary shares of £ 1.00 each | 2 |  | 2

#### 7. Reserves

The profit and loss reserve includes £70,153 of unrealised profits on investment property. This is the difference between investment property’s fair value of £93,537 and its original cost of £131,463, less deferred tax. Unrealised profits are not distributable.