C W Tomkins Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06340001 (England and Wales)

C W TOMKINS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTOR:

C W Tomkins

SECRETARY:

Mrs D Todorovic

REGISTERED OFFICE:

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

REGISTERED NUMBER:

06340001 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

14 All Saints Street

Stamford

Lincolnshire

PE9 2PA

FIXED ASSETS

Tangible assets

4

67,088

63,355

Investments

5

1,008

1,008

Investment property

6

312,500

312,500

380,596

376,863

CURRENT ASSETS

Stocks

661,052

640,404

Debtors

7

353,237

324,669

Cash at bank

5,106

265

1,019,395

965,338

CREDITORS

Amounts falling due within one year

8

629,964

1,145,227

NET CURRENT ASSETS/(LIABILITIES)

389,431

(179,889

)

TOTAL ASSETS LESS CURRENT LIABILITIES

770,027

196,974

CREDITORS

Amounts falling due after more than one year

9

(78,905

)

(66,278

)

PROVISIONS FOR LIABILITIES

(23,000

)

(23,000

)

NET ASSETS

668,122

107,696

CAPITAL AND RESERVES

Called up share capital

10

10,000

10,000

Share premium

11

1,321,517

1,321,517

Profit and loss reserve - non distributable

11

144,107

144,107

Retained earnings

11

(807,502

)

(1,367,928

)

SHAREHOLDERS' FUNDS

668,122

107,696

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Profit and Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 30 July 2021 and were signed by:

C W Tomkins - Director

1.	STATUTORY INFORMATION

C W Tomkins 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Post year end the company is continuing to trade through the coronavirus pandemic and whilst there are uncertainties surrounding the impact of the lockdown, the business is operating at a viable level coupled with the financial support obtained from government schemes. The director has given an undertaking to continue to support the company financially going forward.

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.

Freehold property

-

2% on cost and not provided

Shipping containers

-

20% on reducing balance

Plant and machinery

-

20% on reducing balance

Office equipment

-

33% on cost and 20% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and fair value less costs to complete and sell after making due allowance for slow moving and obsolete items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Fixed asset investments

Fixed asset investments represent long term investments and are stated at cost less impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2019 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Shipping

Plant and

Office

property

containers

machinery

equipment

Totals

£

£

£

£

£

COST

At 1 July 2019

56,320

8,800

24,669

6,687

96,476

Additions

3,995

2,500

1,966

483

8,944

At 30 June 2020

60,315

11,300

26,635

7,170

105,420

DEPRECIATION

At 1 July 2019

10,477

4,745

11,963

5,936

33,121

Charge for year

1,193

1,087

2,675

256

5,211

At 30 June 2020

11,670

5,832

14,638

6,192

38,332

NET BOOK VALUE

At 30 June 2020

48,645

5,468

11,997

978

67,088

At 30 June 2019

45,843

4,055

12,706

751

63,355

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1 July 2019

and 30 June 2020

1,000

8

1,008

NET BOOK VALUE

At 30 June 2020

1,000

8

1,008

At 30 June 2019

1,000

8

1,008

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2019

and 30 June 2020

312,500

NET BOOK VALUE

At 30 June 2020

312,500

At 30 June 2019

312,500

Fair value at 30 June 2020 is represented by:

£

Valuation in 2016

275,000

Valuation in 2018

37,500

312,500

If investment property had not been revalued it would have been included at the following historical cost:

2020

2019

£

£

Cost

145,394

145,394

Investment property was valued on an open market basis on 30 June 2020 by the director .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

37,139

29,708

Amounts owed by group undertakings

293,568

258,808

Other debtors

12,897

26,943

Prepayments and accrued income

9,633

9,210

353,237

324,669

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

9,522

8,740

Trade creditors

43,135

37,249

Amounts owed to group undertakings

-

709,400

Other taxes and social security

1,655

1,911

Other creditors

43,577

23,510

Director's current account

526,601

350,665

Accruals and deferred income

5,474

13,752

629,964

1,145,227

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans - 2-5 years

52,558

34,960

Bank loans - more than 5 years

26,347

31,318

78,905

66,278

Amounts falling due in more than five years:

Repayable by instalments

Bank loans - more than 5 years

26,347

31,318

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

10,000

Ordinary

£1

10,000

10,000

11.

RESERVES

Non distributable reserve

£

Balance at 1 July 2019

144,107

Balance at 30 June 2020

144,107

The aggregate surplus on re-measurement of investment properties and freehold properties, net of associated deferred tax, is transferred to a separate non-distributable reserve in order to assist with the identification of profits available for distribution.

12.	SECURED DEBTS

The following secured debts are included within creditors;

2020

2019

£

£

Bank loan

66,722

75,018

The secured bank loan is secured on the company's investment property and tangible fixed assets.