Tobys Architectural Antiques Limited 31/03/2021 iXBRL

Tobys Architectural Antiques Limited 31/03/2021 iXBRL

TOBYS ARCHITECTURAL ANTIQUES LIMITED - Company Information

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Company registration number: 04087923
Tobys Architectural Antiques Limited
Unaudited filleted financial statements
31 March 2021
Tobys Architectural Antiques Limited
Contents
Statement of financial position
Notes to the financial statements
Tobys Architectural Antiques Limited
Statement of financial position
31 March 2021
2021 2020
Note £ £ £ £
Current assets
Debtors 5 25,520 61,500
Cash at bank and in hand 40,207 22,732
_______ _______
65,727 84,232
Creditors: amounts falling due
within one year 6 ( 1,860) ( 5,820)
_______ _______
Net current assets 63,867 78,412
_______ _______
Total assets less current liabilities 63,867 78,412
_______ _______
Net assets 63,867 78,412
_______ _______
Capital and reserves
Called up share capital 4 4
Profit and loss account 63,863 78,408
_______ _______
Shareholders funds 63,867 78,412
_______ _______
For the year ending 31 March 2021 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 year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 December 2021 , and are signed on behalf of the board by:
Mr P Norrish
Director
Company registration number: 04087923
Tobys Architectural Antiques Limited
Notes to the financial statements
Year ended 31 March 2021
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is One Courtenay Park, Newton Abbot, Devon, TQ12 2HD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial instruments are clasified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financiel liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2020: 2 ).
5. Debtors
2021 2020
£ £
Trade debtors 20 -
Other debtors 25,500 61,500
_______ _______
25,520 61,500
_______ _______
The debtors above include the following amounts falling due after more than one year:
2021 2020
£ £
Other debtors - 25,500
_______ _______
6. Creditors: amounts falling due within one year
2021 2020
£ £
Trade creditors - 60
Other creditors 1,860 5,760
_______ _______
1,860 5,820
_______ _______
7. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2021
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance outstanding
£ £ £ £
Director 1 and 2 ( 4,560) 17,000 ( 14,060) ( 1,620)
_______ _______ _______ _______
2020
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance outstanding
£ £ £ £
Director 1 and 2 ( 19,174) 37,239 ( 22,625) ( 4,560)
_______ _______ _______ _______
8. Controlling party
The company is under the effective control of its directors.