Company No: 10263875 (England and Wales)

Contents

• Company Information
• Accountant's Report
• Statement of Financial Position
• Notes to the Unaudited Financial Statements

DIRECTOR	J E Williams
REGISTERED OFFICE	10 Temple Back
	Bristol
	BS1 6FL
	United Kingdom
COMPANY NUMBER	10263875(England and Wales)
CHARTERED ACCOUNTANTS	Bishop Fleming LLP
	10 Temple Back
	Bristol
	BS1 6FL

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pink Toad Limited for the financial year ended 31 July 2020 which comprises the Statement of Financial Position and the related notes 1 to 7 from the Company’s accounting records and from information and explanations you have given us.

We are subject to the ethical and other professional requirements of the Institute of Chartered Accountants in England and Wales (ICAEW) which are detailed at _http://www.icaew.com/en/members/regulations-standards-and-guidance/_.

It is your duty to ensure that Pink Toad 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 Pink Toad Limited. You consider that Pink Toad Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Pink Toad 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.

This report is made solely to the Director of Pink Toad Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Pink Toad 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. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pink Toad Limited and its Director as a body for our work or for this report.

Bishop Fleming LLP
Chartered Accountants

10 Temple Back
Bristol
BS1 6FL

17 March 2021

		2020		2019
	Note	£		£
Fixed assets
Tangible assets	3	1,242		0
		1,242		0
Current assets
Debtors	4	345		14,294
Cash at bank and in hand		139,824		104,936
		140,169		119,230
Creditors
Amounts falling due within one year	5	( 18,173)		( 20,511)
Net current assets		121,996		98,719
Total assets less current liabilities		123,238		98,719
Net assets		123,238		98,719
Capital and reserves
Called-up share capital	6	20		20
Profit and loss account		123,218		98,699
Total shareholders' funds		123,238		98,719

For the financial year ending 31 July 2020 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared 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 Pink Toad Limited (registered number: 10263875) were approved and authorised for issue by the Director on 17 March 2021. They were signed on its behalf by:

J E Williams Director

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 year.

General information and basis of accounting

Pink Toad Limited (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 10 Temple Back, Bristol, BS1 6FL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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.

The functional currency of Pink Toad Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The Director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. They have 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. The Director has also carefully considered the recent COVID-19 events and, with this in mind, believe that the Going concern basis is still appropriate for the preparation of the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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 Statement of Financial Position 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 basis over its expected useful life, as follows:

Office equipment - 50% Straight line

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 Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial in such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2020	2019
	Number	Number
Monthly average number of persons employed by the Company during the year, including director	1	1

3. Tangible assets

	Office equipment	Total
	£	£
Cost/Valuation
At 01 August 2019	2,082	2,082
Additions	2,482	2,482
Disposals	( 2,082)	( 2,082)
At 31 July 2020	2,482	2,482
Accumulated depreciation
At 01 August 2019	2,082	2,082
Charge for the financial year	1,240	1,240
Disposals	( 2,082)	( 2,082)
At 31 July 2020	1,240	1,240
Net book value
At 31 July 2020	1,242	1,242
At 31 July 2019	0	0

4. Debtors

	2020	2019
	£	£
Trade debtors	125	10,196
Prepayments	220	4,098
	345	14,294

5. Creditors: amounts falling due within one year

	2020	2019
	£	£
Other creditors	1,232	2,785
Corporation tax	12,967	12,414
Other taxation and social security	3,974	5,312
	18,173	20,511

6. Called-up share capital and reserves

	2020	2019
	£	£
Allotted, called-up and fully-paid
10 Ordinary A shares of £ 1.00 each (2019: 10 shares of £ 1.00 each)	10	10
10 Ordinary B shares of £ 1.00 each (2019: 10 shares of £ 1.00 each)	10	10
	20	20

7. Related party transactions

At the year end, the director was owed £1,232 (2019 - £2,785) by the company. The loan is interest-free and repayable on demand.