Tomo Motor Group Ltd - Accounts

Tomo Motor Group Ltd - Accounts

TOMO MOTOR GROUP LTD - Company Information

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Registered Number: 09519940
England and Wales

 

 

 

TOMO MOTOR GROUP LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2021

End date: 31 March 2022

Tomo Motor Group Ltd
Contents Page
For the year ended 31 March 2022
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of Tomo Motor Group Ltd for the year ended 31 March 2022 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the member of Tomo Motor Group Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Tomo Motor Group Ltd and state those matters that we have agreed to state to the Board of Tomo Motor Group Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tomo Motor Group Ltd and its members as a body for our work or for this report.

It is your duty to ensure that Tomo Motor Group Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and Profit of Tomo Motor Group Ltd. You consider that Tomo Motor Group Ltd 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 accounts of Tomo Motor Group Ltd. 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 accounts.



....................................................
Allazo Ltd
2 Claridge Court
Lower Kings Road
Berkhamsted
Hertfordshire
HP4 2AF
21 December 2022
1
 
 		 Notes
 		 2022
£		   2021
£
Fixed assets      
Investments 77,100    77,100 
77,100    77,100 
Current assets      
Debtors: amounts falling due within one year 456,944    579,514 
Cash at bank and in hand 165,114    1,000 
622,058    580,514 
Creditors: amount falling due within one year (676,800)   (652,091)
Net current liabilities (54,742)   (71,577)
 
Total assets less current liabilities 22,358    5,523 
Net assets 22,358    5,523 
 

Capital and reserves 		     
Called up share capital 130    130 
Profit and loss account 22,228    5,393 
Shareholder's funds 22,358    5,523 
 


For the year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 21 December 2022 and were signed on its behalf by:


--------------------------------
James Spencer
Director
2
General Information
Tomo Motor Group Ltd is a private company, limited by shares, registered in England and Wales, registration number 09519940, registration address Unit 1 Tomo Industrial Estate, Packet Boat Lane, Uxbridge, Middlesex, UB8 2JP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 on the historical cost basis except for the modification to a fair value basis for certain financial instruments as specified in the accounting policies below. 
The company has taken advantage of the following disclosure exemptions with FRS 102
Section 1A: 
  • The requirement to present a statement of cash flows and related notes
  • Financial instrument disclosures, including; categories of financial instruments, Items of income, expenses, gains or losses relating to financial instruments, and exposure to and management of financial risks
Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Group consolidation
The company has qualified for and utilised exemption from preparing consolidated accounts under the small group regime. 
Revenue
Revenue is measured at the fair value of the consideration received or receivable from income generated from investments in subsidiaries.  Income is derived from dividends paid from reserves from the subsidiary companies.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Significant Judgements and Estimates
Preparation of the financial statements requires management to make significant judgements and estimates.  The following are significant management judgements in applying the accounting policies of the group that have the most significant effect on the financial statements.
  • Going Concern
The directors have considered the going concern status for the group as a whole as well as individually.   The directors have reviewed the company and group's budgets and forecasts beyond 12 months from the date of the report and believe that the adoption of the going concern basis in preparing these financial statements is appropriate. 
  • Investments in subsidiaries
The investments in subsidiaries are quoted at par value, management review the subsidiary viability and value regularly.  There are no indicators of impairment which would warrant an adjustment. 
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 0 (2021 : 0).
3.

Investments

Cost Investments in group undertakings   Total
  £   £
At 01 April 2021 77,100    77,100 
Additions -    - 
Transfer to/from Tangible fixed assets -    - 
Disposals -    - 
At 31 March 2022 77,100    77,100 

4.

Share Capital

Allotted, called up and fully paid
2022
£		   2021
£
100 Ordinary shares of £1.00 each 100    100 
20 Ordinary A shares of £1.00 each 20    20 
120    120 

3