Toramax Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05751397 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2018

for

Toramax Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms S L O'Neil

REGISTERED OFFICE:

The Thatched White Cottage

Sill Bridge Lane

Waltham St Lawrence

Berkshire

RG10 0NT

REGISTERED NUMBER:

05751397 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

FIXED ASSETS

Tangible assets

4

-

486

CURRENT ASSETS

Debtors

5

15,809

26,250

Cash at bank

100,903

61,485

116,712

87,735

CREDITORS

Amounts falling due within one year

6

(90,367

)

(79,550

)

NET CURRENT ASSETS

26,345

8,185

TOTAL ASSETS LESS CURRENT LIABILITIES

26,345

8,671

CAPITAL AND RESERVES

Called up share capital

5

5

Retained earnings

26,340

8,666

SHAREHOLDERS' FUNDS

26,345

8,671

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 27 March 2019 and were signed by:

Ms S L O'Neil - Director

1.	STATUTORY INFORMATION

Toramax Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company

Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In the application of the company's accounting policies the directors are required to make

judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are

not readily apparent from other sources. The estimates and associated assumptions are based on

historical experience and other factors that are considered to be relevant. Actual results may differ

from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised if the revision

affects only that period, or in the period of the revision and future periods if the revision affects

both current and future periods.

The company does not make significant estimates and assumptions concerning the future.

Turnover

Turnover represents the value of services provided under contracts to the extent that there is a right

to consideration and is recorded at the value of consideration due.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

50% on reducing balance

Tangible fixed assets are included at cost less depreciation and impairment.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive income

or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that

are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is

probable that they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 1 ).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

10,692

Disposals

(10,692

)

At 31 March 2018

-

DEPRECIATION

At 1 April 2017

10,206

Charge for year

182

Eliminated on disposal

(10,388

)

At 31 March 2018

-

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

486

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

13,500

22,500

Other debtors

2,309

3,750

15,809

26,250

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Taxation and social security

4,248

4,600

Other creditors

86,119

74,950

90,367

79,550

7.	RELATED PARTY DISCLOSURES

At the period end £70,590 (March 2017: £73,525) was owed to the Estate of the late Mr J T Terras

by the company.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the Estate of the late Mr J TTerras.