Registration number: 09899776

Honest Toil Limited

Contents

Company Information	1
Statement of Financial Position	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Honest Toil Limited

Company Information

Directors

T Woodgate J Laki

Registered office

26 Leonard Rd London E7 0DB

Accountants

Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

Honest Toil Limited

Statement of Financial Position as at 5 April 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	4,001	4,188
Current assets
Stocks	5	427,279	330,464
Debtors	6	379,766	580,072
Cash at bank and in hand		65,356	94,730
		872,401	1,005,266
Creditors: Amounts falling due within one year	7	(582,504)	(800,279)
Net current assets		289,897	204,987
Total assets less current liabilities		293,898	209,175
Provisions for liabilities		(1,047)	(1,047)
Net assets		292,851	208,128
Capital and reserves
Called up share capital		100	100
Retained earnings		292,751	208,028
Shareholders' funds		292,851	208,128

For the financial year ending 5 April 2026 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of Honest Toil Limited have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Honest Toil Limited

Statement of Financial Position as at 5 April 2026

Approved and authorised by the Board on 29 October 2026 and signed on its behalf by:
 

.........................................

T Woodgate

Director

Company registration number: 09899776

Honest Toil Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2026

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:
26 Leonard Rd
London
E7 0DB

The principal activity of the company is that of the production and sale of olive oil.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a profit for the year ended 5 April 2026 and had net assets of £292,851 at that date.

The directors have a reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future. Accordingly the directors continue to prepare the financial statements on a going concern basis.

Revenue recognition

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

The company recognises revenue upon the despatch of products to customers instead of on delivery for practical reasons. The impact of this is assessed at each period end and is immaterial to revenue and profit for the period.

Honest Toil Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2026

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises corporation tax. Tax is recognised in profit or loss, except that a charge 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.

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
Furniture, fittings and equipment	3 years straight line
Plant and machinery	3 years straight line

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Honest Toil Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2026

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company during the year, was 3 (2025 - 3).

Honest Toil Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2026

4	Tangible assets

	Furniture, fittings and equipment  £	Plant and Machinery £	Total £
Cost or valuation
At 6 April 2025	3,918	2,052	5,970
Additions	1,955	-	1,955
Disposals	(1,068)	-	(1,068)
At 5 April 2026	4,805	2,052	6,857
Depreciation
At 6 April 2025	1,741	41	1,782
Charge for the year	1,331	684	2,015
Eliminated on disposal	(941)	-	(941)
At 5 April 2026	2,131	725	2,856
Carrying amount
At 5 April 2026	2,674	1,327	4,001
At 5 April 2025	2,177	2,011	4,188

5

Stocks

	2026 £	2025 £
Stock	427,279	330,464

6

Debtors

	2026 £	2025 £
Trade debtors	233,460	338,022
Other debtors	146,306	242,050
	379,766	580,072

Honest Toil Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2026

7

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Trade creditors	14,731	12,030
Taxation and social security	29,233	73,001
Accruals and deferred income	6,500	2,500
Other creditors	532,040	712,748
	582,504	800,279