Toscale Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07117629 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2020

FOR

TOSCALE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

MA Tite

SECRETARY:

J Tite

REGISTERED OFFICE:

9 Water Lane

Wootton

Northamptonshire

NN4 6HA

REGISTERED NUMBER:

07117629 (England and Wales)

FIXED ASSETS

Tangible assets

4

579

97

CURRENT ASSETS

Debtors

5

81

101

Cash at bank

3,581

16,258

3,662

16,359

CREDITORS

Amounts falling due within one year

6

22,695

13,457

NET CURRENT (LIABILITIES)/ASSETS

(19,033

)

2,902

TOTAL ASSETS LESS CURRENT LIABILITIES

(18,454

)

2,999

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(18,554

)

2,899

SHAREHOLDERS' FUNDS

(18,454

)

2,999

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 19th October 2020 and were signed by:

MA Tite - Director

1.	STATUTORY INFORMATION

Toscale Ltd 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.

The financial statements have been prepared on a going concern basis not withstanding that at 31st

July 2020 the company has net current liabilities of £19,033. The directors believe this basis to be

appropriate and have agreed to provide funds as necessary to meet the day to day running costs of the

business for the foreseeable future.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Computer equipment

-

33% on cost

Government grants

Income from government grants have been recognised using the accruals model. Grants received

related to revenue have been recognised on a systematic basis over the period in which the entity has

recognised the related cost. Grants received giving immediate financial support to the entity with no

future related costs have been recognised in the period in which it became receivable.

Financial instruments

The company is party to only the basic financial instruments such as cash, trade debtors and creditors

and loans. Instruments such as trade debtors and trade creditors are initially recognised at their

transaction cost and reviewed at the year end for impairment. Debt instruments not repayable on

demand or due within one year, such as bank loans, are measured at amortised cost using the

effective interest rate.

Taxation

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

Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st August 2019

4,035

Additions

671

Disposals

(812

)

At 31st July 2020

3,894

DEPRECIATION

At 1st August 2019

3,938

Charge for year

189

Eliminated on disposal

(812

)

At 31st July 2020

3,315

NET BOOK VALUE

At 31st July 2020

579

At 31st July 2019

97

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

81

101

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

130

256

Taxation and social security

(859

)

9,363

Other creditors

23,424

3,838

22,695

13,457

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

£1

100

100