A. & G. Toseland Limited Company accounts

COMPANY REGISTRATION NUMBER: 02742202

A. & G. TOSELAND LIMITED

UNAUDITED FINANCIAL STATEMENTS

30 June 2018

A. & G. TOSELAND LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2018

CONTENTS	PAGES

Officers and professional advisers	1

Director's report	2

Statement of income and retained earnings	3

Statement of financial position	4

Notes to the financial statements	5 to 8

The following pages do not form part of the financial statements

Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements	10

A. & G. TOSELAND LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

DIRECTOR	Mr F G Toseland

COMPANY SECRETARY	Mrs M S Toseland

REGISTERED OFFICE	Catesby Street
	Kettering
	Northamptonshire
	NN16 8XN

ACCOUNTANTS	Meadows & Co Limited
	Chartered accountant
	Headlands House
	1 Kings Court
	Kettering Parkway
	Kettering
	NN15 6WJ

A. & G. TOSELAND LIMITED

DIRECTOR'S REPORT

YEAR ENDED 30 JUNE 2018

The director presents his report and the unaudited financial statements of the company for the year ended 30 June 2018 .

DIRECTORS

The directors who served the company during the year were as follows:

Mr F G Toseland
Hughes Armstrong Corporate Investment PLC	(Resigned 26 October 2017)

SMALL COMPANY PROVISIONS

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 9 January 2019 and signed on behalf of the board by:

Mr F G Toseland
Director

Registered office:

Catesby Street

Kettering

Northamptonshire

NN16 8XN

A. & G. TOSELAND LIMITED

STATEMENT OF INCOME AND RETAINED EARNINGS

YEAR ENDED 30 JUNE 2018

	2018	2017
Note	£	£
TURNOVER	471,909	415,202

Cost of sales	256,356	226,033
	---------	---------
GROSS PROFIT	215,553	189,169

Administrative expenses	203,750	202,269
Other operating income	1,872	–
	---------	---------
OPERATING PROFIT/(LOSS)	13,675	( 13,100)

Interest payable and similar expenses		6,867	956
		---------	---------
PROFIT/(LOSS) BEFORE TAXATION	5	6,808	( 14,056)

Tax on profit/(loss)	–	–
	-------	--------
PROFIT/(LOSS) FOR THE FINANCIAL YEAR AND TOTAL COMPREHENSIVE INCOME	6,808	( 14,056)
	-------	--------

RETAINED EARNINGS AT THE START OF THE YEAR	91,521	105,577
	--------	---------
RETAINED EARNINGS AT THE END OF THE YEAR	98,329	91,521
	--------	---------

All the activities of the company are from continuing operations.

A. & G. TOSELAND LIMITED

STATEMENT OF FINANCIAL POSITION

30 June 2018

	2018		2017
Note	£	£	£	£

FIXED ASSETS

Tangible assets	6		1,515		1,540

CURRENT ASSETS

Stocks		98,520	116,705
Debtors	7	169,490	155,694
Cash at bank and in hand		4,644	1,243
		---------	---------
		272,654	273,642

CREDITORS: amounts falling due within one year	8	140,840		148,661
		---------		---------
NET CURRENT ASSETS			131,814		124,981
			---------		---------
TOTAL ASSETS LESS CURRENT LIABILITIES			133,329		126,521
			---------		---------
NET ASSETS			133,329		126,521
			---------		---------

CAPITAL AND RESERVES

Called up share capital	35,000	35,000
Profit and loss account	98,329	91,521
	---------	---------
SHAREHOLDERS FUNDS	133,329	126,521
	---------	---------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 9 January 2019 , and are signed on behalf of the board by:

Mr F G Toseland
Director

Company registration number: 02742202

A. & G. TOSELAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2018

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Catesby Street, Kettering, Northamptonshire, NN16 8XN.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & machinery	-	20% straight line
Fixtures and fittings	-	25% straight line
Motor vehicles	-	20% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 3 (2017: 4 ).

5. PROFIT BEFORE TAXATION

Profit/(loss) before taxation is stated after charging:

	2018	2017
	£	£
Depreciation of tangible assets	738	1,260
	----	-------

6. TANGIBLE ASSETS

	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 July 2017	80,525	28,881	2,800	112,206
Additions	–	713	–	713
	--------	--------	-------	---------
At 30 June 2018	80,525	29,594	2,800	112,919
	--------	--------	-------	---------
Depreciation
At 1 July 2017	80,525	28,881	1,260	110,666
Charge for the year	–	178	560	738
	--------	--------	-------	---------
At 30 June 2018	80,525	29,059	1,820	111,404
	--------	--------	-------	---------
Carrying amount
At 30 June 2018	–	535	980	1,515
	--------	--------	-------	---------
At 30 June 2017	–	–	1,540	1,540
	--------	--------	-------	---------

7. DEBTORS

	2018	2017
	£	£
Trade debtors	102,370	99,834
Other debtors	67,120	55,860
	---------	---------
	169,490	155,694
	---------	---------

8. CREDITORS: amounts falling due within one year

	2018	2017
	£	£
Bank loans and overdrafts	45,880	56,069
Trade creditors	65,629	41,107
Amounts owed to group undertakings and undertakings in which the company has a participating interest	5,860	11,700
Social security and other taxes	19,883	34,931
Other creditors	3,588	4,854
	---------	---------
	140,840	148,661
	---------	---------

9. OPERATING LEASES

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2018	2017
	£	£
Not later than 1 year	1,980	1,980
Later than 1 year and not later than 5 years	6,930	7,920
Later than 5 years	–	990
	-------	--------
	8,910	10,890
	-------	--------

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director entered into the following advances and credits with the company:

	2018
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr F G Toseland	44,991	55,441	( 44,369)	56,063
	--------	--------	--------	--------

	2017
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr F G Toseland	44,627	364	–	44,991
	--------	----	----	--------

A. & G. TOSELAND LIMITED

MANAGEMENT INFORMATION

YEAR ENDED 30 JUNE 2018

The following pages do not form part of the financial statements.

A. & G. TOSELAND LIMITED

CHARTERED ACCOUNTANT'S REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF A. & G. TOSELAND LIMITED

YEAR ENDED 30 JUNE 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A. & G. Toseland Limited for the year ended 30 June 2018, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of A. & G. Toseland Limited in accordance with the terms of our engagement letter dated 1 October 2016. Our work has been undertaken solely to prepare for your approval the financial statements of A. & G. Toseland Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A. & G. Toseland Limited and its director for our work or for this report.

It is your duty to ensure that A. & G. Toseland Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of A. & G. Toseland Limited. You consider that A. & G. Toseland Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of A. & G. Toseland Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Meadows & Co Limited Chartered accountant

Headlands House 1 Kings Court Kettering Parkway Kettering NN15 6WJ

9 January 2019